The price of bitcoin is growing again. On Tuesday, it fell to $ 108,600, but quickly recovered above $ 112,000. The short -term increase in sales caused a surge of the inflow on the exchange, but now they are reduced again.
Cryptoonchain cryptoanalyst believes that the fall stopped and the further decline is unlikely, referring to Cryptoquant on Wednesday.
Bitcoin sales pressure weakens
The analyst explained that the 30-day sliding average for the tributaries of bitcoin decreases after reaching the lowest level since May 2023. The indicator reached a minimum in July, but soon grew when Bitcoin reached a new historical maximum. The growth was caused by the fixation of profit by investors.
The tributaries of the exchanges reached a peak in April when new US tariff policies were announced. By the time of writing, they dropped to record minimums during the last fall in prices. Cryptoonchain noted that the decrease is significant. He calculated the fall in all exchanges and connected this with the restoration of the price. The price of bitcoin increased to $ 111,000.
US investors stop selling
These investors have become the engine of the recent rally, and a similar situation is observed in the Binance Sports market. Cryptoonchain considers it a bull signal. Bitcoin reserves available for sale are reduced, which can strengthen market moods. The analyst predicts the medium -term growth of BTC.
Coinbase Advanced shows a sharper decline, which indicates a low sales pressure. The data is confirmed by the opinion of Cryptoonchain that investors can hold assets in anticipation of price growth. This reduces the number of coins affordable for sale, and creates ascending pressure on prices.
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Source: Cryptocurrency
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