Bitcoin's Strong Hold Persists Despite Anticipated Bear Market? Long-Term Investors Show Resilience
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In the dynamic world of cryptocurrencies, several significant developments have taken place over the past few days. Here's a roundup of the latest news.
Binance Futures data reveals an interesting trend, with 60.65% of accounts being long, and a long/short ratio of 1.54. This suggests that a larger number of traders are betting on a bullish market. However, it's important to note that this is not a guarantee of future price movements.
The net unrealized profit/loss (NUPL) for long-term holders of Bitcoin remains elevated, indicating that those who have held Bitcoin for a long time are still enjoying high profits. Contrastingly, short-term holders have seen slight profit declines, as evidenced by the dip in STH-NUPL values.
The price of Bitcoin has seen some volatility. After a 4% drop following tariff news, Bitcoin has recovered and explored new all-time highs, hitting $124,000. However, in the past seven days, the price has dropped by 3.84%.
Sell-side liquidity has continued to decline sharply, with total Bitcoin held across exchanges and GBTC falling under 150,000. This could potentially lead to further price fluctuations.
Bitfinex reports a 20% increase in long positions during the recent Bitcoin price decline, suggesting that some traders are seeing this dip as an opportunity to buy.
In other news, Ethereum is also showing signs of a potential breakout. With 1.6 million ETF inflows, there's a hint of a surge coming. Chainlink, meanwhile, has seen a significant movement with Whale moves of $31.15M in LINK, as Chainlink hits $26 for the first time in 7 months.
Interestingly, KindlyMD has acquired 5,743 BTC worth $679 million, and SUI TVL has reached $2.25B, boosting hopes for a breakout toward the $7 price level.
Lastly, it's worth noting that the author who wrote the article about Bitcoin development on StartingUp.de remains unnamed, but the Bitcoin idea was introduced by the pseudonymous Satoshi Nakamoto on October 31, 2008. On Bitcoin2Go.de, Lennard Merten and Daniel Wenz are identified as cryptocurrency authors covering Bitcoin topics.
As always, it's crucial to approach the cryptocurrency market with caution and do thorough research before making investment decisions. Stay updated with the latest news and trends to make informed decisions.
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