2024

New BTC

Bitcoin

<p>Leading crypto trader Ali highlights several key price levels and network metrics that indicate early signs of returning demand for Bitcoin.&nbsp;</p> 
<p>First, Ali <a href="https://twitter.com/ali_charts/status/1752010819812962323" target="_blank" rel="noreferrer noopener nofollow">notes</a> growing evidence around prior Bitcoin support levels now serving as areas of demand and conviction for dip buyers:</p> 
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<p><em>“Over 516,000 #BTC have been transacted within key price ranges: $16,500, $26,770, and $42,550.”</em></p> 
<p>The $26.7K and $42.5K areas in particular tie closely to the 21-week exponential moving average that fueled historical BTC bull runs. The $42.5k zone is the most critical support zone for BTC this year.</p>  
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<h2 class="wp-block-heading" id="strong-on-chain-data-reflecting-renewed-interest-strong"><strong>On-Chain Data Reflecting Renewed Interest</strong></h2> 
<p>In addition, Ali <a href="https://twitter.com/ali_charts/status/1751889130441556069" target="_blank" rel="noreferrer noopener nofollow">cites</a> the marked rise in new Bitcoin addresses. Typically, new address growth reflects retail and institutional inflows returning.</p> 
<p><em>“The rise in new $BTC addresses indicates a growing wave of investor interest. It looks like many have been buying the #BTC dip.”</em></p> 
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<p>So while risks remain in this precarious environment, Bitcoin is showing several indications of basing behavior and renewed accumulation interest after severe capitulation moves.</p> 
<p>The noted levels around $16.5k, $26.7k, and $42.5k should prove pivotal as bulls attempt to wrest back control and kickstart Bitcoin’s next growth impulse towards higher highs.</p> 
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<p>The post <a href="https://captainaltcoin.com/bitcoin-showing-early-signs-of-demand-as-new-btc-addresses-rise-analyst-shares-critical-btc-support-zone-in-2024/">Bitcoin Showing Early Signs of Demand As New BTC Addresses Rise; Analyst Shares Critical BTC Support Zone In 2024</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Bitcoin Showing Early Signs of Demand As New BTC Addresses Rise; Analyst Shares Critical BTC Support Zone In 2024

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