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3 Factors That Will Keep Bitcoin (BTC) in the Spotlight This September
The post 3 Factors That Will Keep Bitcoin (BTC) in the Spotlight This September appeared on BitcoinEthereumNews.com. Long-term holders have pushed Bitcoin’s realized cap to $3 billion, showing strong confidence in the cryptocurrency’s future. The stablecoin supply ratio is signaling increased liquidity, which may drive a potential rally in Bitcoin. Bitcoin has reclaimed the $61,000 level, marking a significant recovery after a week of bearish consolidation. At the time of writing this article, Bitcoin was trading at $60,679, which is a 4% rise over the last 24 hours. Currently, the market capitalization of the cryptocurrency has gone past $1.2 trillion, thus underlining the growth of investors’ confidence. The recent price rally has been coupled with a significant rise in trading volume, with Bitcoin’s daily volume rising by 31% to $29 billion. Long-Term Holder Realized Cap Surges to $3 Billion The realized cap, the total cumulative realized profits minus losses, of Bitcoin has recently crossed the $3 billion mark. This figure depicts a big accumulation by long-term holders (LTHs), who hold the asset for six or more months. While short-term holders (STHs) are day traders who may respond to short-term price movements, the LTHs appear to be less concerned with prices at the moment. The actual cap at $3 billion is similar to the results recorded in December of 2023, implying that the long-term investors are quite confident. This positive net value suggests that LTHs are not only holding on to their coins but also increasing their holdings, which could be a good sign for Bitcoin’s future. Miners’ Selling Pressure Stabilizes Bitcoin miners have been cashing out their coins through exchanges, which has put negative pressure on the Bitcoin price. However, recent data shows that this selling pressure has been constant for the last two weeks. The trend of miners’ reserves is indicating accumulation again, which can help hold the price of Bitcoin in its current range and may lead…
The post 3 Factors That Will Keep Bitcoin (BTC) in the Spotlight This September appeared on BitcoinEthereumNews.com.
Long-term holders have pushed Bitcoin’s realized cap to $3 billion, showing strong confidence in the cryptocurrency’s future. The stablecoin supply ratio is signaling increased liquidity, which may drive a potential rally in Bitcoin. Bitcoin has reclaimed the $61,000 level, marking a significant recovery after a week of bearish consolidation. At the time of writing this article, Bitcoin was trading at $60,679, which is a 4% rise over the last 24 hours. Currently, the market capitalization of the cryptocurrency has gone past $1.2 trillion, thus underlining the growth of investors’ confidence. The recent price rally has been coupled with a significant rise in trading volume, with Bitcoin’s daily volume rising by 31% to $29 billion. Long-Term Holder Realized Cap Surges to $3 Billion The realized cap, the total cumulative realized profits minus losses, of Bitcoin has recently crossed the $3 billion mark. This figure depicts a big accumulation by long-term holders (LTHs), who hold the asset for six or more months. While short-term holders (STHs) are day traders who may respond to short-term price movements, the LTHs appear to be less concerned with prices at the moment. The actual cap at $3 billion is similar to the results recorded in December of 2023, implying that the long-term investors are quite confident. This positive net value suggests that LTHs are not only holding on to their coins but also increasing their holdings, which could be a good sign for Bitcoin’s future. Miners’ Selling Pressure Stabilizes Bitcoin miners have been cashing out their coins through exchanges, which has put negative pressure on the Bitcoin price. However, recent data shows that this selling pressure has been constant for the last two weeks. The trend of miners’ reserves is indicating accumulation again, which can help hold the price of Bitcoin in its current range and may lead…
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