BTC Whales Accumulate as Sentiment Improves

IconCryptoNewsTerminal Staff22 Jul, 2024

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BTC Whales Accumulate as Sentiment Improves

BTC On-Chain Indicators Flash Bullish Signals Global cryptocurrency exchange, Bitfinex, recently released its weekly analysis report, 'Bitfinex Alpha,' highlighting bullish signals in BTC on-chain indicators. The report notes the first 5-day consecutive green candle close for BTC since early March and a profitable Miner Capitulation Index after a month. Furthermore, the Cumulative Volume Delta (CVD) indicator suggests growing buy pressure over the past several weeks. Notably, the realized price for long-term holders has surpassed $20,000 for the second time ever. These indicators collectively suggest that the bottom for BTC is potentially in place, accompanied by improving market sentiment. ```

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