On Wednesday, Bitcoin price Back to $ 93,000 level while the performance of the bullish market was missing before recovering more than $ 94,000 a few hours later. Instead of sparking bearish sentiment to investors, the pullback seems to have done the opposite, as BTC holders in major crypto exchanges show optimistic behavior towards the flagship of the digital asset.
Long -term Bitcoin holders sell activity that hit the brake
Bitcoin may have shown the weakening of momentum, but the emotion in investors appears to be moving toward a positive outlook. BTC holders At the largest crypto exchange, Binance, is beginning to touch their coins in expecting an ongoing rally.
On-chain market expert and founder of Alphractal, Joao Wedson, reported Those Bitcoin holders have been on the sale of pressure, providing a possible retreat from the recent market pressure. “After the months of BTC's disposal in Binance, network veterans seem to be resting,” Wedson said.
This positive behavior is specifically seen in long-term BTC holders in the leading crypto exchange. BTC Long-Term Holders'Reducing pressure sale is often considered a bullish development and thought to be the foundation of price stability. Although BTC prices are walking near resistance levels, this reduced activity sells activity from these investors in Binance suggests increasing trust in prospects reversed by the asset.
Data from Bitcoin Exchange Inflow spent output bands measures the Binance It is shown that the old BTC is no longer sent to crypto exchanges, unlike the past. It is noteworthy that the old BTC was classified as coins purchased by investors within 6 months, 1 year, and 3 years ago.
Currently, the expert has featured that there are no clear signs of distribution or sale of pressure from experienced hands. According to the expert, major BTC investors distributed and sold their coins in 2024.
Volume of Purchase of Spot Increasing
Investors' upbringing in investors in Btc can also be seen by an increase in the area of purchase of volume above the sale of volume in Binance. After more than 6 months, this is the first time the amount of purchase has exceeded the area that sells volume in the crypto exchange, marked a well -known emotion transfer.
Wedson Highlighting The development of the combined volume of delta (CVD), which measures the difference between the purchase and sale of volumes over time. The data announced that the combined volume of the Delta Metric has continued to rise since the low $ 75,000, suggesting that the combined -with the purchase pressure sells more pressure.
In addition, attention has long been focused on the CVD of the Binance spot as it has maintained a similar downward trend since 2021 and barely maintains a positive growth. Thus, Wedson emphasized the importance of monitoring the vital measure of the day -to -risk to measure the appetite and Purchase of interest in Binance Exchange.
Featured image from Pixabay, chart from tradingview.com
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