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Bitcoin Bull Run Still Intact? Here’s What On-Chain Data Says

NewsBTC LogoNewsBTC12h ago

Bitcoin Bull Run Still Intact? Here’s What On-Chain Data Says - NewsBTC

Quick Summary:

Ju remarks, “Retail investors are mostly absent, similar to mid-2020.” This absence might contribute to less volatility, as retail trading often leads to rapid price swings.#4 Old Whales Still HODL Between March and June, long-term holders (those who have held for over three years) transferred their Bitcoin holdings to newer investors.

There were large crypto deposits by Jump Trading recently, and Binance hit YTD high in daily deposits.” Related Reading: Bitwise CIO Believes The Crypto Crash Sets The Stage For Bitcoin To Thrive – Key Reasons Why #2 Borderline On-Chain Indicators While some on-chain indicators have recently turned bearish, these are borderline, according to Ju.

US mining costs are ~$43K per BTC, so hashrate likely stable unless prices dip below this.” #2 Whale Behavior Significant Bitcoin inflows into custody wallets are another argument to be bullish, indicating strong accumulation by large-scale investors, often referred to as ‘whales’.


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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-07 @ 13:00:47 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 492 words

Reading Time: 3 minutes read

Sentences: 72 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 21970293

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About NewsBTC

NewsBTC Logo

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 6 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 13 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #102

Publisher Details

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