On-Chain Metrics Flashing Crypto Market Bottom Signals, but the Macro Environment Is Still Wobbly: IntoTheBlock
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Market intelligence platform IntoTheBlock says that even though on-chain data is hinting at a bear market bottom for crypto assets, the overall macro environment is still shaky. In a new article, the crypto analytics firm finds that the number of long-term Bitcoin (BTC) holders, or traders who have owned BTC for at least a year, burgeoned in 2022, noting the investor class is known for purchasing the king crypto during bear markets and creating a support level. “HODLers supporting a bottom – long-term Bitcoin holders historically take advantage of bear markets to buy Bitcoin. In 2022 we saw the amount
Blockchain analytics firm IntoTheBlock says that long-term Bitcoin (BTC) holders are gobbling up the top crypto asset to the tune of hundreds of billions of dollars. In a new report, the market... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]…
Blockchain analytics firm IntoTheBlock says that long-term Bitcoin (BTC) holders are gobbling up the top crypto asset to the tune of hundreds of billions of dollars. In a new report, the market... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]…
Bitcoin’s recent downturn has prompted renowned crypto analyst Willy Woo to offer a fresh perspective on the cryptocurrency’s future trajectory. Woo’s analysis, based on the surge in Bitcoin’s Macro Index, suggests an optimistic outlook for the leading digital currency, potentially indicating a pivotal shift in market dynamics. Unveiling Bitcoin Double…