Bitcoin

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<p>Bitcoin has recently <a href="https://www.tradingview.com/symbols/BTCUSDT/" rel="noopener noreferrer nofollow">attained</a> a new peak, reaching $42,210 on the Bitstamp exchange. This notable surge in value marks a significant milestone for the cryptocurrency, with an impressive year-to-date (YTD) increase of 154.60%.&nbsp;</p>
<h2 id="indicating-bullish-sentiment">Indicating bullish sentiment</h2>
<p>One of the key indicators pointing to bullish sentiment among investors is the 10%+ annualized basis noted by <a href="https://twitter.com/DeribitExchange/status/1732020017922019358" rel="noopener noreferrer nofollow">Deribit</a>.</p>
<p>This basis, which represents the discrepancy between spot and future prices, suggests a projected rise of 10-12% in Bitcoin's value.&nbsp;</p>
<p>It is a critical measure for traders, as it allows them to lock in returns by selling futures while simultaneously purchasing spot BTC, effectively mitigating the risk associated with price fluctuations.&nbsp;</p>
<p>Such a strategy not only reflects optimism on the market but also provides a strategic advantage in navigating the volatile cryptocurrency landscape.</p>
<h2 id="long-term-holders-stand-firm">Long-term holders stand firm</h2>
<p>Further reinforcing the optimistic outlook is the behavior of long-term Bitcoin holders. According to data from IntoTheBlock, despite <a href="https://u.today/tethers-big-bitcoin-bet-pays-off-with-85-profit" rel="noopener noreferrer nofollow">Bitcoin</a> breaking the $40,000 mark, these steadfast investors have not been cashing out.&nbsp;</p>
<p>Instead, they have increased their holdings, collectively acquiring over 360,000 BTC since early November. This group now controls more than 13.8 million BTC, signifying a strong belief in the long-term value and stability of Bitcoin. This steadfastness among long-term investors serves as a testament to their confidence in Bitcoin's future prospects.</p>
<p>Adding to the bullish narrative, there is a noticeable increase in the average trade size on U.S. exchanges, as reported by Kaiko. This change suggests that larger trades have become more common since September.</p>

Bitcoin (BTC) Price Tops $42,000; Here's One Major Bullish Sign

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