contributor
Posted:
- Bitcoin long-term holders have been buying aggressively.
- MicroStrategy’s convertible debt will enable more purchase of Bitcoin.
Bitcoin [BTC] continued to demonstrate strength as the crypto market rebounded after a six-month downturn. Long-term holders’ actions are crucial for BTC traders, offering insights into trade timing.
Over the last two months, long-term holders have accumulated more BTC, marking the highest accumulation period in the last three years.
Additionally, these investors, along with new entrants, have collectively purchased over 1 million BTC since from the year 2022.
This aggressive buying behavior signals strong confidence in Bitcoin’s future. Some of the earliest Bitcoin mining addresses have recently become active, further increasing the long-term supply of BTC.
Source: Glassnode
MicroStrategy (MSTR) leads top 10 performing stocks in the S&P 500, continues to support Bitcoin with gains of over 1000% since adopting its BTC strategy.
Recently, MSTR issued $1 billion in convertible debt at a low 0.625% interest rate to redeem $500 million of senior secured notes with a 6.125% rate to fund the purchase of Bitcoins.
This move reduced its blended interest rate to 0.81% from 1.6%, lowering annual interest expenses.
Source: X
Remarkably, this debt offering also strengthens MicroStrategy’s balance sheet, allowing it to potentially acquire more Bitcoin in the future, even if BTC prices fall.
The ongoing acquisitions by major institutions like MSTR position Bitcoin for future growth.
Bitcoin 3-day MACD crossed bullish
Moreover, BTC’s 3-day MACD has crossed into bullish territory, signaling continued strength as BTC trades above $63K.
With expectations of breaking the $65,000 level soon, Bitcoin is showing resilience and a growing trend of reclaiming the 100-day moving average.
This upward momentum suggested that being bearish on BTC at this time may be risky, especially as Bitcoin appears poised to reach new highs.
Source: Seth/X
Performance from cycle lows
Finally, analyzing Bitcoin’s price performance since its cycle lows revealed that in the last three market cycles, BTC has consistently finished higher in the month of September.
Bitcoin is up approximately 300% from the low of the current cycle. If BTC continues its historical pattern and finishes the year between the previous cycles, the price target could potentially reach $108K.
With improving market conditions, this target is becoming increasingly possible.
Source: Glassnode
Read Bitcoin’s [BTC] Price Prediction 2024–2025
Bitcoin’s strong institutional backing, increasing long-term holder activity, and bullish technical indicators point to the possibility of BTC price moving significantly higher in the near future.
The growing confidence among investors and major players like MicroStrategy only strengthens the outlook for Bitcoin as it continues to rise in both price and market dominance.
contributor
Posted:
- Bitcoin long-term holders have been buying aggressively.
- MicroStrategy’s convertible debt will enable more purchase of Bitcoin.
Bitcoin [BTC] continued to demonstrate strength as the crypto market rebounded after a six-month downturn. Long-term holders’ actions are crucial for BTC traders, offering insights into trade timing.
Over the last two months, long-term holders have accumulated more BTC, marking the highest accumulation period in the last three years.
Additionally, these investors, along with new entrants, have collectively purchased over 1 million BTC since from the year 2022.
This aggressive buying behavior signals strong confidence in Bitcoin’s future. Some of the earliest Bitcoin mining addresses have recently become active, further increasing the long-term supply of BTC.
Source: Glassnode
MicroStrategy (MSTR) leads top 10 performing stocks in the S&P 500, continues to support Bitcoin with gains of over 1000% since adopting its BTC strategy.
Recently, MSTR issued $1 billion in convertible debt at a low 0.625% interest rate to redeem $500 million of senior secured notes with a 6.125% rate to fund the purchase of Bitcoins.
This move reduced its blended interest rate to 0.81% from 1.6%, lowering annual interest expenses.
Source: X
Remarkably, this debt offering also strengthens MicroStrategy’s balance sheet, allowing it to potentially acquire more Bitcoin in the future, even if BTC prices fall.
The ongoing acquisitions by major institutions like MSTR position Bitcoin for future growth.
Bitcoin 3-day MACD crossed bullish
Moreover, BTC’s 3-day MACD has crossed into bullish territory, signaling continued strength as BTC trades above $63K.
With expectations of breaking the $65,000 level soon, Bitcoin is showing resilience and a growing trend of reclaiming the 100-day moving average.
This upward momentum suggested that being bearish on BTC at this time may be risky, especially as Bitcoin appears poised to reach new highs.
Source: Seth/X
Performance from cycle lows
Finally, analyzing Bitcoin’s price performance since its cycle lows revealed that in the last three market cycles, BTC has consistently finished higher in the month of September.
Bitcoin is up approximately 300% from the low of the current cycle. If BTC continues its historical pattern and finishes the year between the previous cycles, the price target could potentially reach $108K.
With improving market conditions, this target is becoming increasingly possible.
Source: Glassnode
Read Bitcoin’s [BTC] Price Prediction 2024–2025
Bitcoin’s strong institutional backing, increasing long-term holder activity, and bullish technical indicators point to the possibility of BTC price moving significantly higher in the near future.
The growing confidence among investors and major players like MicroStrategy only strengthens the outlook for Bitcoin as it continues to rise in both price and market dominance.
clomiphene price uk generic clomiphene pill can i purchase generic clomiphene for sale clomid can i order generic clomid for sale how to get clomiphene pill can i order cheap clomid for sale
I’ll certainly bring back to skim more.
More posts like this would make the online play more useful.
order azithromycin online – zithromax 500mg price order generic metronidazole
purchase semaglutide pill – order generic cyproheptadine 4 mg buy cyproheptadine 4 mg sale
domperidone 10mg tablet – tetracycline 250mg cost purchase cyclobenzaprine for sale
generic zithromax – generic azithromycin 250mg bystolic tablet
buy augmentin generic – atbioinfo.com ampicillin antibiotic online
nexium 20mg oral – nexium to us buy generic esomeprazole for sale
warfarin 2mg uk – https://coumamide.com/ hyzaar generic
buy mobic pills – https://moboxsin.com/ mobic 7.5mg cheap
order prednisone 20mg generic – https://apreplson.com/ buy deltasone 20mg online
medicine erectile dysfunction – https://fastedtotake.com/ ed pills online
order amoxicillin – how to get amoxil without a prescription cheap amoxil generic
buy fluconazole 100mg pills – buy forcan paypal diflucan buy online
cenforce over the counter – click buy cenforce pill
cialis commercial bathtub – https://ciltadgn.com/ tadalafil daily use
zantac 150mg over the counter – https://aranitidine.com/ buy zantac generic
buy cheap viagra uk – https://strongvpls.com/ viagra buy sri lanka
More posts like this would make the blogosphere more useful. buy nolvadex generic
More peace pieces like this would insinuate the интернет better. gabapentin buy online
This is the compassionate of scribble literary works I truly appreciate. on this site