Key Points
- Bitcoin’s bullish trend may continue despite minor retracements, with investors acquiring $80 billion worth of BTC monthly.
- Long-term holders and short-term holders play significant roles in preventing a major BTC price decline.
Since September, a consistent imbalance in the buy-to-sell ratio has bolstered the bullish outlook for Bitcoin (BTC). Investors are purchasing BTC worth $80 billion every month, highlighting the growing demand and confidence in the asset.
Despite a slight 0.28% decline recently, Bitcoin’s upward trend is expected to continue. This decline seems to be a natural pullback within its broader rally.
Trading Activity Stabilizes Bitcoin’s Price
A report from analyst James Van Straten discloses substantial trading activity in the Bitcoin market since September, contributing to the stability of Bitcoin’s price. The Long/Short-term holder threshold is currently 1.28, indicating a strong inclination for accumulation.
This implies that for every 1 BTC sold, buyers are purchasing approximately 1.28 BTC, signaling consistent demand. Long-term holders (LTH) were primarily responsible for most of the sell-offs, while short-term holders (STH) or early investors drove the buying activity.
Historic Moment for Bitcoin
Bitcoin has seen a significant inflow of funds, with buying activity reaching $80 billion per month, according to analyst Ki Young Ju. This is a highly bullish indicator for Bitcoin, suggesting that adoption is steadily increasing with more retail investors entering the market.
Despite a 0.28% dip in Bitcoin’s price over the past 24 hours, market indicators continue to suggest a bullish outlook. Bitcoin’s funding rate remains positive at 0.0100% over the last eight hours, indicating that long traders maintain price stability in both spot and futures markets.
The current fluctuation seems to be a minor retracement, with the bulls maintaining an edge. The long-term outlook for Bitcoin remains strong, positioning the asset for continued upward movement.