Bitcoin, and the wider crypto market, have seen a dramatic increase in the last few weeks. Prices are now significantly higher than they were back in 2024.
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Jerome Powell, the Chairman of the Board of Governors of Federal Reserve System announced that the policy would be changing, indicating a possible interest rate decrease in September. Investors have been boosted by this announcement, which has led to an increase in market activity.
Glassnode data shows that the long-term investors (LTH) have a consistent profit of $138,000,000 per day. How will this affect the markets in future?
Bitcoin Daily Capital Inflows are Crucial for Price Stability
Bitcoin LTHs have made consistent gains in the last few months, despite the volatility and uncertainty on the market. The According to Bitcoin Long-Term Holder Net Realized Profit/Loss chart LTH is currently selling Bitcoin for approximately $138,000,000 per day. The selling pressure is a key benchmark in the market. It indicates the amount of capital needed to stabilize Bitcoin’s price and counterbalance this selling.
LTH could be putting downward pressure on the Bitcoin price if daily Bitcoin inflows fall below this benchmark of $138,000,000. This dynamic highlights the delicate balance that exists between LTH’s profits and LTH buyers.
Bitcoin’s pricing will continue to be an interesting thing to observe in the next few weeks as it continues to move through this market phase. BTC’s future will depend on how well new investment flows can counter or even surpass the selling pressure. next The major Move
BTC Exceeds $64,900 – What Next?
Bitcoin’s price is now $64,360 as I write this, following weeks of intense selling pressure and fear that saw its value drop to $49577 only 20 days earlier.
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Now, BTC is flirting with the $65,000 mark following two successful daily candles closing above the crucial 200-day moving average—a key indicator that investors use to identify a bullish or bearish market structure.
Bitcoin appears to be gaining momentum, however it needs to hold its ground above the indicator.
BTC should easily be able to break through $65,000 if it can keep this level. next The target is likely to be around $67,000. Bitcoin could be in danger of returning to local demand levels near $60,000.
Featured Image created using Dall-E and chart from Tradingview.com
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Source: www.newsbtc.com