bullish

Shift

Bitcoin

Spot

Higher

<ul class="wp-block-list">
 <li>Bitcoin surges to $66k, marking a new technical higher high and signaling potential bullish momentum across the market.</li>  
 <li>Both long-term and short-term Bitcoin holders see profitability rise, suggesting reduced financial pressure and market recovery.</li>  
 <li>US Spot ETFs now manage $58B in Bitcoin, holding 4.6% of the supply, reflecting strong institutional confidence and market influence.</li> 
</ul>  
<p>Bitcoin has made a notable leap, reaching $66k for the first time since its all-time high (ATH). This move sets a new technical higher high, marking a moment for cryptocurrency. Furthermore, several key <a href="https://t.co/8ynub1OG64" target="_blank" rel="noopener noreferrer nofollow">on-chain metrics</a> are also recording higher highs, strengthening the bullish outlook.&nbsp;</p>  
<p>Besides, a rise in long-term holders (LTH) holding Bitcoin in loss shows signs of market recovery as investors are not facing major financial stress. Additionally, short-term holders (STH) are seeing profitability rise, signaling improving market conditions.</p>  
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<h2 class="wp-block-heading" id="h-long-term-and-short-term-holders-show-signs-of-recovery">Long-Term and Short-Term Holders Show Signs of Recovery</h2>  
<p>Additionally, the present cycle of the price of Bitcoin exhibits striking similarities in recovery behaviors with prior cycles from 2015, 2019, and 2023. <a href="https://www.kraken.com/learn/hodl" target="_blank" rel="noopener noreferrer nofollow">HODLing</a> is still the most common type of investment activity, and the price swings suggest that Bitcoin may be entering a new accumulation period. Additionally, long-term holders are maintaining their positions despite unrealized losses from the $73k ATH period.</p>  
<p>Short-term holders, on the other hand, have shown clear improvement in profitability. Over 62% of STH coins are now in profit, a positive sign that financial pressure is easing. Moreover, STH realized profit has rebounded strongly, indicating a more favorable market environment compared to previous weeks.</p>  
<h2 class="wp-block-heading" id="h-institutional-confidence-in-bitcoin-grows-through-etfs">Institutional Confidence in Bitcoin Grows Through ETFs</h2>  
<p>ETF investors are also maintaining a strong position, with total assets under management in US Spot ETFs reaching $58 billion. These ETFs hold 4.6% of <a href="https://cryptonewsland.com/long-term-bitcoin-hodlers-increase-holdings-by-440k-btc/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s circulating supply</a>, with acquisition costs ranging from $54.9k to $59.1k. Despite some sell-side pressure, ETF investors remain confident.<br>Bitcoin's market dynamics suggest a growing shift, with both long-term and short-term holders benefiting from the rally. The market is showing signs of entering a more profitable phase, supported by key on-chain metrics. This resurgence in profitability, coupled with<a href="https://cryptonewsland.com/institutional-confidence-soars-bitcoin-etfs-receive-310m-inflow-amidst-market-recovery/" target="_blank" rel="noopener noreferrer nofollow"> institutional confidence in ETFs</a>, points to a potentially significant change in market structure. Consequently, the coming months could offer substantial opportunities for both individual and institutional investors.</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoin-surges-to-66k-new-higher-high-signals-market-shift/" rel="noopener noreferrer nofollow">Bitcoin Surges to $66k: New Higher High Signals Market Shift</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin Surges to $66k: New Higher High Signals Market Shift

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