Dogecoin

bullish

Bitcoin

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André Dragosch, Head of European Research at Bitwise, has identified a negative trend in net buying volumes on Bitcoin spot exchanges over the past three days.
However, Dragosch noted that despite the downward movement, there has been a sharp increase in long-term Bitcoin liquidations, which have reached their highest level since Aug. 5, when BTC hit a recent low, noting signs that short-term sellers are exhausted.
“Short-term wallets sent the most Bitcoin to exchanges at a loss since the August lows,” Dragosch said. Dragosch also noted that market sentiment has shifted from relatively bullish levels to more neutral levels, as shown by the Bitwise Cryptoasset Sentiment Index.
Related News: <a href="https://en.bitcoinsistemi.com/mark-cuban-previously-known-to-be-a-dogecoin-fan-made-unexpected-statements-about-doge/" target="_blank" rel="noopener noreferrer nofollow">Mark Cuban, Previously Known to be a Dogecoin Fan, Made Unexpected Statements About DOGE</a>
Further analysis using Glassnode data suggests a shift in Bitcoin’s supply dynamics. While the illiquid Bitcoin supply reached an all-time high, the supply classified as highly liquid and illiquid fell to yearly lows. This points to changing market behavior as more Bitcoin moves into long-term holding patterns.
Bitwise Research Analyst Ayush Tripathi added that despite the recent price drop, the supply of Bitcoin held by long-term holders (investors who have held their Bitcoin for at least 155 days) has increased since early October, indicating continued confidence in Bitcoin as a long-term investment even as short-term demand has weakened.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/analyst-says-short-term-sellers-exhausted-in-bitcoin-shares-what-to-expect-next/" rel="noopener noreferrer nofollow">Analyst Says “Short-Term Sellers Exhausted in Bitcoin”, Shares What to Expect Next</a>

Analyst Says “Short-Term Sellers Exhausted in Bitcoin”, Shares What to Expect Next

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