The main BTCOIN (BTC) indicated a possible transformation in its position after the long -term BTC CAP (CAP LTH) has made $ 18 billion for the first time since September 2024. data from Cryptoquant Shown This group showed an aggressive accumulation, which previously distinguished the BTC bottom in Q3 2024.
CAP measures LTH CAP basis BTC cost for investors, and keeps them allocated for 155 days or more. A sharp increase indicates that these long -term pregnant women in the accumulation stage, in parallel with upscale behavior.
Bitcoin LTH Net Cap mode. Source: Cryptoquant
As shown in the graph, this scale has already been increased in the past. Recently, the CAP, which made LTH reached $ 18 billion on September 8, 2024, after which Bitcoin has recorded 100 % revenue over the next few months.
Another main meeting that matches the current lower preparation with September 2024 is the significant decrease in an open interest. BTC’s OI reached the highest level at all times, reaching $ 39 billion in July, but it decreased by 25 % by September. Likewise, Bitcoin’s open interest decreased by 28 % between December 18 and April 8,
Bitcoin open attention. Source: Coinglass
Supports the simultaneous rise in the CAP LTH and wipe the leverage with the possibility of bitcoin price. However, Bitcoin’s open interest increased by approximately 10 % over the past 24 hours, indicating that the basic procedure that follows this rise may provide better bias in the direction in the coming days.
Related: Bitcoiners may be the “Protecting” ascending on the premature stagnation: 10x Search
Bitcoin builds support at $ 79,000
After forming a new annual level at 74,500 dollars on April 7-April 9, BTC prices increased by approximately 10 % over the past three days. Regarding price levels less than the level of $ 80,00, Glassnode data open BTC created reliable support at $ 79,000. In the X Publication, the data analysis platform was mentioned,
“Given the distribution of cost foundation, Bitcoin built remarkable support at a price of $ 79,000, with a accumulation of about 40,000 BTC there. I also worked through a group of 82.08 thousand dollars (~ 51K BTC).”
Heatmap Bitcoin map based on cost basis distribution. Source: x.com
As shown on April 6-11, the distribution of supply is highlighted by the accumulation of investors. This follows the increase of Bitcoin after 81,000 dollars, driven by a CPI rate in the United States by 2.4 % and the suspension of President Trump for 90 days, as the market’s feelings tend towards cautious optimism for a relief gathering.
Likewise, the unknown technical analyst is cold -blooded Schiller male Bitcoin’s descending trend line, with a BTC price test with a potential bullish collapse. The analyst said,
“You must admit, this looks very attractive to BTC.”
Bitcoin scheme analysis for one day by cold blood. Source: x.com
Related: says Bollen Bands says Bitcoin, who is the “classic” floor, says near 80,000 dollars.
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.
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