Main points:
-
The Bitcoin Cover Cover is the victory over the records and it has almost reached a sign of $ 900 billion.
-
A new analysis says that the market lay the foundations for “possible prices.”
-
Achieving profit does not hinder the recovery of the total market.
Bitcoin (BTCIt is to put new levels at all in the value of the network as BTC PRICE Action Element a RTURN to Six This.
Data from the onchain analytics platform Cryptoquant It emphasizes new standard levels of the achieved Bitcoin cover.
CAP reflects the Bitcoin “increased conviction”
Bitcoin deserves more than ever in terms of the US dollar if the maximum market is measured by the value that was transferred through the existing supply.
This number known as CAP has seen continuous continuously since mid -April as the BTC/USD stages, which is a continuous recovery, and as of May 7, 891 billion dollars.
“Bitcoin has seen a steady flow of capital flows in recent weeks, which reflects a renewed interest in investors,” and may summarize the contributor to Cryptoquant Carmelo Alemán in one of them “Quicktake” blog publications On May 7.
Alemán argued that the achieved Cap Uptrend reflects a long -term transformation in the market through the Bitcoin Investor spectrum.
“This is the highest new level ever in the CAP, which does not reflect an increase in the invested capital, but also a growing condemnation of the Bitcoin’s capabilities in the long term as a financial asset,” the Post concluded.
“With a constant accumulation of both LTHS and Sths, the market seems to build a solid basis for a potential difference in prices. If this trend continues, we may see the early stages of a new Paul Bitcoin cycle.”
BTC Capital Deflux has been going on since 2023
As said CointeleGRAPH, fears remain the fate of the current market recovery.
Related to: BTC dominates 71 % “collapse”: 5 things to know in Bitcoin this week
Fears of profit In particular, the reasons for doubting that the higher prices may not last – both LTH and ST are seized the opportunity to lock profits, with an average of one billion dollars per day.
In the latest version of the regular newsletter, “The week onchainThe Glassnode Research Company argues that purchase and sale conditions are about $ 100,000.
She wrote: “An increase in profits can be observed in recent weeks, with drawing in the last collection by more than a million dollars a day in net capital flows,” she wrote.
“This refers to the initial indicators of the return of the demand force, allowing the sellers to close the profits, and talk to buyers ready to capture coins at the current market price. In general, this indicates a wave of demand that absorbs the incoming supply.”
Glassnode added that the search for profits, in fact, spanned more than 18 months.
It is worth noting that the market has maintained a system that has been moved by profit since October 2023, as capital flows continuously exceeded external flows. This fixed flow of new capital is a comprehensive construction signal, and she said.
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.
publish_date
