The new buyers enter the Bitcoin market are viewed as uncommon and they collect the cryptocurrency faster than mine workers, a potential blessing for bitcoin price.
“Currently, the joint balance of these regiments expands at a rate of about 19.3 thousand BTC per month” He said In the market report on Monday.
Bitcoin investors “accumulate unabated”
Analysts have indicated that shrimp holders (<1 BTC), Cancer (1-10 BTC), and fish (10-100 BTC) work to cultivate Bitcoin wallet faster than the current monthly release rate, which has been about 13,400 BTC since April 12.
They said: “The demand from this sector alone is more than enough to absorb all the new offer,” adding that they are constantly buying regardless of the price:
“It supports the direction of accumulation at the level of the broader upward bullish regiment that the new buyers who enter the Bitcoin market are buyers of prices and they are accumulating unabated with limited periods.”
The aggressive accumulation comes as Bitcoin continues to put new levels at all. On Monday, Bitcoin reached the highest new level ever at 122,884 dollars before restoring $ 119,860 at publication time, According to To CoinmarketCap data.
Despite the bullish momentum, some warn of potential fluctuations.
Marintegeraph, co -co -founder of Redstone, told Cointelegraph that, while many encryption analysts are now calling for short -term Bitcoin goals up to $ 140,000, “History teaches us that equivalent moves often call sharp corrections.”
High feelings “requires changing the size of the situation”
Kazmierczak pointed to the large number of recovered situations that have been eliminated during the past 24 hours as a reminder that “fluctuation is still the continuous bitcoin companion.”
Nearly $ 430 million was filtered from Bitcoin shorts, as the price rose to 121,000 dollars, According to To Coinglass data.
Related to: “Don’t be congestion!” Bitcoin’s prices are witnessing a decline of 118.8 thousand dollars in focus
He said that investors must approach the parameters of the upcoming bitcoin prices with caution, not ecstasy, warning that the high morale “requires changing the size of the situation.”
Fear of encryption and greed indexAnd that measures the morale of the total market, the “greed” degree recorded 74 on Monday, on the occasion of the fifth consecutive day in the greed.
Santiment analyst Brian Quinvan recently warned that although the high feelings may seem positive, a similar rise in the circulating optimism was followed by bitcoin price drops on June 11 and July 7.
Meanwhile, QCC Capital said, “Bitcoin gathering unabated in it does not show any signs of fatigue, as it exceeded 122 thousand dollars with the acceleration of momentum.”
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