According to experts, the current indicator is three times lower than the monthly volume of bitcoins, which entered the exchange on the days of the first Bitcoin achievement of $ 100,000. The current level is the lowest since 2020.
“In the current environment, a sharp decrease in the influx of bitcoins clearly indicates that the market has moved to the retention phase. The pressure on the sale was clearly weakened, and the data indicate a growing tendency to long -term storage of assets, which can lay the foundation for short -term growth, ”suggested Cryptoquant experts.
The slow restoration of the first cryptocurrency after a fall below $ 100,000 indicates the careful behavior of investors. Bitcoin growth is due to improving the mood of investors in the United States and support from companies buying assets for their reserves, experts explained.
The status of bitcoin as a protective financial instrument is only formed, but the growing demand smoothes output and accelerates the recovery, summarized in Cryptoquant.
Earlier, Glassnode experts reported that a decrease in the number of transactions in the first cryptocurrency network is caused by the collapse of the number of operations and an increase in the dominance of large market participants.
Source: Bits
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