It plunged to $29,000 on July 24, suggesting that the bears are attempting to take the lead. The failure to maintain greater ranges could have tempted short-term bulls to safe income and aggressive bears to provoke brief positions.
Regardless of wanting bearish within the brief time period, long-term buyers stay unfazed and proceed to carry their positions. Glassnode knowledge is accessible in Bitcoin (BTC) long-term holder provide set new highs 14.52 million bitcoins, “equal to 75% of the circulating provide”.
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