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<p>The post <a href="https://coinpedia.org/news/bitcoin-news-will-btc-price-rally-amid-upcoming-macroeconomic-shifts/">Bitcoin News: Will BTC Price Rally Amid Upcoming Macroeconomic Shifts?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin’s (BTC) price</a> has struggled to rally above the crucial support/resistance level of around $62k since the <a href="https://coinpedia.org/news/bitcoin-price-crash-btc-price-drops-to-52k-amid-stock-market-crash/" target="_blank" rel="noreferrer noopener">August 5 market crash</a>. The fear of further crypto crashes in the coming weeks and potentially in September continues to increase among investors.</p> 
<p>Furthermore, Bitcoin’s fear and greed index dropped from 39 percent on Thursday to 34 percent on Friday after the flagship coin retraced below $61k.</p> 
<h2 class="wp-block-heading" id="h-long-term-bitcoin-holders-unwavered-nbsp">Long-Term Bitcoin Holders Unwavered&nbsp;</h2> 
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   <p lang="en" dir="ltr">Amidst tumultuous market conditions as of late, Long-Term Holders have been locking in a reasonably consistent $138M in profit per day. With each transaction, a buyer and a seller are matched, with supply and demand imbalances resolved via price changes.<br><br>Therefore, we can infer… <a href="https://t.co/tSAXvF9Rc1">pic.twitter.com/tSAXvF9Rc1</a></p>— glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1826915769449333107?ref_src=twsrc%5Etfw">August 23, 2024</a>
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<p>According to on-chain data analysis provided by Glassnode, long-term holders have registered a net realized profit/loss of about $138 million, down from over $900 million in the past few weeks.&nbsp;</p> 
<p>Nevertheless, long-term Bitcoin holders have accumulated more coins in preparation for the next bullish wave. For instance, BlackRock’s IBIT has led other US-based spot Bitcoin ETFs in accumulating coins worth over $280 million in the past two weeks.</p> 
<p>During the same period, Bitcoin miners almost mined coins to the same value, thus yielding an equilibrium between buyers and sellers.</p> 
<h2 class="wp-block-heading" id="h-next-bullish-wave">Next Bullish Wave</h2> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/MatrixportOnTarget?src=hash&amp;ref_src=twsrc%5Etfw">#MatrixportOnTarget</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> – Aug 23: <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>: Macro Shifts Poised to Fuel the Next Big Rally<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Matrixport?src=hash&amp;ref_src=twsrc%5Etfw">#Matrixport</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/cryptomarket?src=hash&amp;ref_src=twsrc%5Etfw">#cryptomarket</a> <a href="https://twitter.com/hashtag/MarketWatch?src=hash&amp;ref_src=twsrc%5Etfw">#MarketWatch</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a href="https://t.co/GvK8Q8OMmL">pic.twitter.com/GvK8Q8OMmL</a></p>— Matrixport Official English (the only official X) (@Matrixport_EN) <a href="https://twitter.com/Matrixport_EN/status/1826897162489528678?ref_src=twsrc%5Etfw">August 23, 2024</a>
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<p>According to a report by Matrix on Target, a group of researchers who pinpointed Bitcoin’s bear market bottom and the 2023-2024 bull run, the upcoming macro shift will trigger the next big rally.</p> 
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 <p>“Financial markets may seem calm, but we could be at a pivotal juncture as gold, oil, treasury yields, and the U.S. dollar through critical support levels. This situation suggests that a significant macroeconomic shift might be underway, with its full impact likely to become apparent only in the coming months, Matrixport noted.</p> 
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<p>The upcoming U.S. elections and the possible interest rate cuts next month will trigger the anticipated macroeconomic shift. Meanwhile, Matrixport highlighted that the post-Bitcoin-halving bull cycle is almost halfway, taking about 250 days to peak.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/bitcoins-eye-for-180k-surge-are-bullish-patterns-pointing-to-a-big-breakout/" target="_blank" rel="noreferrer noopener">Bitcoin’s Eye For $180K Surge: These Bullish Patterns Pointing to a Big Breakout?</a></p>

Bitcoin News: Will BTC Price Rally Amid Upcoming Macroeconomic Shifts?

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