2024

Bitcoin

Delta

<p>Bitcoin is experiencing an impressive rebound. The value of the flagship crypto has increased by 29% since July 5 to reach a peak of €68,000. This sudden recovery is generating enthusiasm among investors. Above all, it is reigniting interest in the cryptocurrency market.</p>
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     <p lang="en" dir="ltr">Crypto products saw inflows of $1.35B last week, led by <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> with $1.27B, while <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> and <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> also saw significant inflows, according to <a href="https://twitter.com/CoinSharesCo?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@CoinSharesCo</a>. <a href="https://t.co/nSdaAT4kLF" rel="noopener noreferrer nofollow">https://t.co/nSdaAT4kLF</a></p>— Crypto Briefing (@Crypto_Briefing) <a href="https://twitter.com/Crypto_Briefing/status/1815383045232353439?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 22, 2024</a>
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  Data on Bitcoin revives hopes
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<h2 id="h-on-chain-indicators-reveal-the-robustness-of-the-bitcoin-market">On-chain indicators reveal the robustness of the Bitcoin market</h2>
<p>Despite <a href="https://www.cointribune.com/en/the-crypto-market-is-gaining-momentum-again-yes-but-for-how-long/" target="_blank" rel="noopener noreferrer nofollow">the volatility of the crypto market</a>, Bitcoin seems to be holding its ground. The on-chain indicators of the most significant digital asset indeed show signs of strength.</p>
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<p>According to the <a href="https://blog.bitfinex.com/bitfinex-alpha/bitfinex-alpha-bullish-signals-are-underpinning-btc/" target="_blank" rel="noopener noreferrer nofollow">report</a> from Bitfinex Alpha, BTC has achieved <strong>a sequence of five consecutive daily green closes</strong>. An unprecedented event since March! This phenomenon indicates a robust shift in market dynamics.</p>
<p>The <a href="https://www.cointribune.com/en/german-pressure-lifted-bitcoin-ready-to-explode/" target="_blank" rel="noopener noreferrer nofollow">massive sale</a> of more than 48,000 BTC by the German government was absorbed without significant impact. This demonstrates the resilience of the Bitcoin market. Miner selling pressure has also decreased, with indicators showing <strong>renewed profitability</strong> for these key players in the crypto sector.</p>
<p><strong><u>Another fact:</u></strong> Bitcoin reserves on crypto exchanges have rapidly decreased. This suggests that investors are accumulating assets and withdrawing their funds from trading platforms. This reduces the available supply.</p>
<h2 id="h-the-impact-of-bitcoin-etfs-and-renewed-investor-confidence">The impact of Bitcoin ETFs and renewed investor confidence</h2>
<p>Last week, <a href="https://www.cointribune.com/en/bitcoin-etfs-attract-over-1-billion-in-ten-days/" target="_blank" rel="noopener noreferrer nofollow">inflows</a> into Bitcoin ETFs reached <strong>a total of $1.2 billion</strong>, with an average entry cost of $58,200. This record figure illustrates a marked resurgence of investor interest in BTC. But not only that! It could also suggest a potential market bottom.</p>
<p>The Delta cumulative volume measure indicates <strong>increased buying pressure</strong> over the past two weeks. This trend shows that investors are betting on a continued rise in the price of Bitcoin. Enough to strengthen the positive dynamics of the crypto market.</p>
<p>The current rebound of Bitcoin seems to be based on solid fundamentals, with growing <a href="https://www.cointribune.com/en/crypto-institutional-accumulation-reaches-new-heights-in-2024/" target="_blank" rel="noopener noreferrer nofollow">institutional support</a> and encouraging on-chain indicators. However, caution remains essential in this highly volatile market.</p>

Bitcoin Up 29% in 3 Weeks: Bull Run Ahead?

Obsah

Cointribune EN

Ďalšie články zverejnené 23. 7. 2024

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