- Analysts predict the imperative $50K BTC support will hold.
- Increased wallet activities on Bitcoin signals long-term bullish sentiment.
The idea that Bitcoin [BTC] has hit its bottom is not confirmed. For a true bottom, the price needs to revisit the support level multiple times.
Prices don’t usually bottom out and stay there; they often form a double bottom, make a higher low, or move sideways to accumulate.
If the $50k-$52k level is to hold, the price would have revisited it 95% of the time, as we are seeing now. If this level isn’t the bottom, the price will fall through on this revisit.
However, if it is the bottom, the price should come back to this level with a slow pullback.
To be confident in the market’s next move, let the price build support. Traders and investors can now use dollar-cost averaging or invest when the price confirms this support.
Source: TradingView
Mayer Multiple is at the lowest level since 2022
The Mayer Multiple measures Bitcoin’s current price against its 200-day moving average. This 200-day average is a well-known indicator to determine if the market is generally rising or falling.
Currently, the Mayer Multiple is at its lowest level since the 2022 Bear Market Bottom. If you think Bitcoin’s price will rise in the next 6-12 months, now is a great time to buy. This period offers an opportunity to invest at lower prices.
Source: Glassnode
Whales buy more BTC during the dip
The number of Bitcoin addresses holding over 100 BTC rose from 15,913 to 16,006 during the recent market dip, showing that large investors bought more Bitcoin.
Former MicroStrategy CEO Michael Saylor, a major Bitcoin holder, announced he owns over a billion dollars’ worth of Bitcoin. Data from Glassnode shows this metric reached its highest point in 2024.
Source: Glassnode
Is your portfolio green? Check out the BTC Profit Calculator
Data from CryptoQuant showed that since the Spot Bitcoin ETF was launched, the number of new Bitcoin wallets holding over 1,000 BTC has surged to an all-time high.
This increase indicates that large, savvy investors are buying more Bitcoin, while smaller investors and traders are selling in a panic.
Source: CryptoQuant
- Analysts predict the imperative $50K BTC support will hold.
- Increased wallet activities on Bitcoin signals long-term bullish sentiment.
The idea that Bitcoin [BTC] has hit its bottom is not confirmed. For a true bottom, the price needs to revisit the support level multiple times.
Prices don’t usually bottom out and stay there; they often form a double bottom, make a higher low, or move sideways to accumulate.
If the $50k-$52k level is to hold, the price would have revisited it 95% of the time, as we are seeing now. If this level isn’t the bottom, the price will fall through on this revisit.
However, if it is the bottom, the price should come back to this level with a slow pullback.
To be confident in the market’s next move, let the price build support. Traders and investors can now use dollar-cost averaging or invest when the price confirms this support.
Source: TradingView
Mayer Multiple is at the lowest level since 2022
The Mayer Multiple measures Bitcoin’s current price against its 200-day moving average. This 200-day average is a well-known indicator to determine if the market is generally rising or falling.
Currently, the Mayer Multiple is at its lowest level since the 2022 Bear Market Bottom. If you think Bitcoin’s price will rise in the next 6-12 months, now is a great time to buy. This period offers an opportunity to invest at lower prices.
Source: Glassnode
Whales buy more BTC during the dip
The number of Bitcoin addresses holding over 100 BTC rose from 15,913 to 16,006 during the recent market dip, showing that large investors bought more Bitcoin.
Former MicroStrategy CEO Michael Saylor, a major Bitcoin holder, announced he owns over a billion dollars’ worth of Bitcoin. Data from Glassnode shows this metric reached its highest point in 2024.
Source: Glassnode
Is your portfolio green? Check out the BTC Profit Calculator
Data from CryptoQuant showed that since the Spot Bitcoin ETF was launched, the number of new Bitcoin wallets holding over 1,000 BTC has surged to an all-time high.
This increase indicates that large, savvy investors are buying more Bitcoin, while smaller investors and traders are selling in a panic.
Source: CryptoQuant
cost of generic clomid online cost generic clomiphene pills can you get clomiphene without rx buy cheap clomiphene pill how can i get generic clomid without dr prescription can i order clomiphene without insurance can i order clomiphene prices
This is a question which is near to my heart… Many thanks! Unerringly where can I notice the contact details for questions?
More articles like this would frame the blogosphere richer.
azithromycin price – purchase tinidazole generic metronidazole online buy
order motilium generic – order domperidone pills cyclobenzaprine medication
zithromax 250mg ca – azithromycin online buy bystolic 20mg online
clavulanate where to buy – atbioinfo ampicillin over the counter
nexium 20mg over the counter – https://anexamate.com/ purchase nexium generic
oral warfarin – https://coumamide.com/ order cozaar 25mg
meloxicam 15mg generic – https://moboxsin.com/ meloxicam order
prednisone 20mg oral – https://apreplson.com/ deltasone online
buy ed meds – buy generic ed pills over the counter erection pills
buy cheap generic amoxicillin – buy generic amoxil over the counter purchase amoxicillin online
brand fluconazole 200mg – buy fluconazole without a prescription buy fluconazole 100mg
order lexapro sale – https://escitapro.com/ escitalopram 20mg price
cenforce drug – on this site order cenforce 50mg online cheap
tadalafil walgreens – https://ciltadgn.com/ generic tadalafil tablet or pill photo or shape
cialis generic – on this site cialis samples
brand ranitidine 150mg – online buy generic zantac online
buy viagra generic usa – strongvpls where can i buy viagra in la
This is a question which is near to my verve… Many thanks! Exactly where can I upon the acquaintance details an eye to questions? sitio web
With thanks. Loads of conception! https://buyfastonl.com/furosemide.html
Thanks for sharing. It’s acme quality. https://ursxdol.com/doxycycline-antibiotic/
This is the stripe of content I get high on reading. https://prohnrg.com/
More posts like this would make the blogosphere more useful. viagra prix