- Bitcoin volumes in U.S surged and reached 2022 levels.
- The profitability of holders grew along with the velocity of BTC.
Bitcoin [BTC] witnessed a massive surge in price over the last few days, causing a spike in optimism for BTC during this period. Due to this surge in price, there was a massive spike in terms of volume for BTC as well.
Volumes on the rise
According to new data, BTC trade volume during US hours had returned to 2022 levels. The high volume of BTC transactions in America indicated that the U.S market was showing massive interest in BTC and may have even reached saturation.
However, on APAC (Asia Pacific) front, it wasn’t the case. The volume during APAC trading hours were significantly lower. This meant that there was a large cohort of people that had still not interacted with BTC.
As the popularity of BTC grows, traders operating during APAC hours may soon invest and trade BTC which may drive the price of BTC to new heights.
Source: X
As BTC began to reach its previously established all time highs, many old holders were observed to be moving their holdings. Recently, an on-chain movement of over 10-year-old Bitcoin was recorded.
A transaction involving 2,000 BTC was sent in block 844625, marking a significant shift in long-held assets.
Whales make moves
This whale behaviour could cause a rise in FUD amongst holders and traders alike, and may cause a negative impact on BTC’s price.
At press time, BTC was trading at $69,750.53 and its price had grown by 0.04% in the last 24 hours.
Moreover, the velocity at which it was trading at had grown, implying the frequency at which BTC was trading at had also increased.
Coupled with that, the MVRV ratio for BTC had also significantly grown, implying that most addresses were profitable at the time of writing. Even though this is positive for the holders, it could mean trouble for BTC’s price.
As profitability rises, so does the incentive to sell. If holders begin to indulge in profit-taking, BTC’s price can be negatively impacted. A factor that can determine the likelihood of an address selling their BTC is the Long/Short ratio.
Read Bitcoin’s [BTC] Price Prediction 2024-25
The Long/Short ratio showcases the number of long term holders compared to short-term holders on the network.
At press time, this ratio was declining, indicating a prevalence of short term holders who are more likely to sell their holdings.
Source: Santiment
- Bitcoin volumes in U.S surged and reached 2022 levels.
- The profitability of holders grew along with the velocity of BTC.
Bitcoin [BTC] witnessed a massive surge in price over the last few days, causing a spike in optimism for BTC during this period. Due to this surge in price, there was a massive spike in terms of volume for BTC as well.
Volumes on the rise
According to new data, BTC trade volume during US hours had returned to 2022 levels. The high volume of BTC transactions in America indicated that the U.S market was showing massive interest in BTC and may have even reached saturation.
However, on APAC (Asia Pacific) front, it wasn’t the case. The volume during APAC trading hours were significantly lower. This meant that there was a large cohort of people that had still not interacted with BTC.
As the popularity of BTC grows, traders operating during APAC hours may soon invest and trade BTC which may drive the price of BTC to new heights.
Source: X
As BTC began to reach its previously established all time highs, many old holders were observed to be moving their holdings. Recently, an on-chain movement of over 10-year-old Bitcoin was recorded.
A transaction involving 2,000 BTC was sent in block 844625, marking a significant shift in long-held assets.
Whales make moves
This whale behaviour could cause a rise in FUD amongst holders and traders alike, and may cause a negative impact on BTC’s price.
At press time, BTC was trading at $69,750.53 and its price had grown by 0.04% in the last 24 hours.
Moreover, the velocity at which it was trading at had grown, implying the frequency at which BTC was trading at had also increased.
Coupled with that, the MVRV ratio for BTC had also significantly grown, implying that most addresses were profitable at the time of writing. Even though this is positive for the holders, it could mean trouble for BTC’s price.
As profitability rises, so does the incentive to sell. If holders begin to indulge in profit-taking, BTC’s price can be negatively impacted. A factor that can determine the likelihood of an address selling their BTC is the Long/Short ratio.
Read Bitcoin’s [BTC] Price Prediction 2024-25
The Long/Short ratio showcases the number of long term holders compared to short-term holders on the network.
At press time, this ratio was declining, indicating a prevalence of short term holders who are more likely to sell their holdings.
Source: Santiment
![Avalanche [AVAX] jumps 7% ahead of token unlock: Is $43.50 coming?](https://coininsights.com/wp-content/uploads/2024/05/avax-token-unlock-schedule-120x86.png)
Thank you for the good writeup It in fact was a amusement account it Look advanced to far added agreeable from you However how could we communicate
average cost of clomid where buy cheap clomid tablets where to get cheap clomiphene price clomid other name where to buy clomiphene without dr prescription where to buy clomiphene price can i purchase clomid online
More articles like this would remedy the blogosphere richer.
More delight pieces like this would create the интернет better.
buy zithromax 250mg online cheap – buy cheap generic zithromax metronidazole order
order semaglutide generic – purchase periactin online cheap periactin 4 mg brand
motilium 10mg pills – order generic domperidone 10mg cyclobenzaprine 15mg for sale
amoxil canada – order diovan 80mg online cheap combivent 100 mcg tablet
nexium 40mg canada – anexa mate order nexium 20mg
buy warfarin 2mg pill – https://coumamide.com/ purchase losartan pill
meloxicam 15mg brand – https://moboxsin.com/ buy generic meloxicam
cost deltasone 10mg – aprep lson buy deltasone 20mg pills
buy ed pills sale – buy ed pills us red ed pill
fluconazole 200mg without prescription – fluconazole pill order forcan generic
purchase cenforce sale – cheap cenforce 50mg buy cenforce 100mg pill
does medicare cover cialis for bph – on this site cialis patent expiration 2016
cialis 100mg from china – click cialis 20mg side effects
order ranitidine 300mg online cheap – https://aranitidine.com/# order zantac sale
sildenafil 100mg coupon – https://strongvpls.com/ cheapest viagra super active
Thanks an eye to sharing. It’s acme quality. this
I’ll certainly carry back to read more. cost neurontin
Thanks for sharing. It’s first quality. https://ursxdol.com/propecia-tablets-online/
This is the kind of serenity I have reading. https://prohnrg.com/product/priligy-dapoxetine-pills/
The vividness in this piece is exceptional. aranitidine
This is a question which is forthcoming to my callousness… Myriad thanks! Unerringly where can I find the phone details for questions? https://ondactone.com/product/domperidone/
With thanks. Loads of knowledge!
cozaar 25mg over the counter
Greetings! Extremely serviceable advice within this article! It’s the crumb changes which liking espy the largest changes. Thanks a lot towards sharing! https://lzdsxxb.com/home.php?mod=space&uid=5065823
forxiga 10 mg uk – https://janozin.com/ buy dapagliflozin generic
how to buy xenical – xenical order online buy orlistat 60mg sale
This is a question which is near to my heart… Numberless thanks! Exactly where can I notice the acquaintance details for questions? http://bbs.dubu.cn/home.php?mod=space&uid=405300