Ethereum

Rally

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-eyes-83000-target-as-on-chain-activity-surges">Bitcoin Eyes $83,000 Target as On-Chain Activity Surges</a><br></p>
<p style="text-align: justify"> With <a href="https://en.bitcoinhaber.net/microstrategy-stocks-overvalued-after-soaring-343-time-to-cash-out">Bitcoin</a> steadfastly holding above $72,000, the <a href="https://en.bitcoinhaber.net/fetch-ai-fet-and-singularitynet-agix-shine-in-the-ai-sector">cryptocurrency</a>‘s journey embodies a robust bull market with record-setting prices and an upbeat investor community. As the largest digital currency by market capitalization sustains impressive levels, market analysts observe a surge in on-chain activity and inflows. </p> 
<h2 id="capital-inflows-and-small-wallet-accumulation">Capital Inflows and Small Wallet Accumulation</h2> 
<p style="text-align: justify"> Leading Bitcoin analyst Willy Woo has detected that the Bitcoin network is experiencing daily capital injections amounting to $2 billion, mirroring patterns from prior bull markets. Woo credits the recent deployment of spot ETFs for bolstering these inflows. Concurrently, on-chain data reveals a pivot in accumulation dynamics, with a growing number of small Bitcoin wallets, while the count of large ‘whale’ wallets sees a decline. On-chain metrics provider Santiment identifies an increase in small wallet holders and a decrease in whale wallet holders within a fortnight. </p> 
<h2 id="market-analyst-predicts-rally-and-stock-resilience">Market Analyst Predicts Rally and Stock Resilience</h2> 
<p style="text-align: justify"> Seasoned crypto analyst Ali Martinez has observed around $83 billion being channeled into the cryptocurrency space, with Bitcoin and <a href="https://en.bitcoinhaber.net/ethereum-gains-momentum-as-bitcoin-faces-pressure">Ethereum</a> reaping a major share. Martinez, utilizing Bitcoin MVRV Pricing Bands, anticipates Bitcoin’s price could soar to $83,035. This inflow signifies escalating interest from both institutional and individual investors, who remain eager to capitalize on anticipated appreciation and broader market adoption. </p> 
<p style="text-align: justify"> Moreover, the U.S. stock market’s performance demonstrates durability amidst February’s higher-than-expected inflation rates. Jurrien Timmer of Fidelity underlines a revitalizing liquidity trend, regardless of the Federal Reserve’s policies. He correlates the rise in stock prices with an increase in overall liquidity since mid-2023. </p> 
<p style="text-align: justify"> With persistent robust liquidity, the probability of a significant downturn in Bitcoin’s valuation or the larger crypto market remains low, underpinning a prevailing positive sentiment amongst investors during this ongoing bull market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-eyes-83000-target-as-on-chain-activity-surges">Bitcoin Eyes $83,000 Target as On-Chain Activity Surges</a></h5>

Bitcoin Eyes $83,000 Target as On-Chain Activity Surges

Table of Contents

BH NEWS

Other articles published on Mar 13, 2024

Bitcoin Hodlers Eye Long Term: $520 Million BTC Go To Cold Storage

Satoshi DEX, The First Bitcoin Dex, has Rocketed Past $2.5M In Pre-Sale, Stage 4 is Live (13 Mar)

OKX Exchange Secures Principle Approval for Expansion in Singapore

Jack Dorsey Block Debuts Bitcoin Wallet, Skips Crypto Pay

Bitcoin Reaches Record-Breaking Price as New Investors Flood In

Shiba Inu (SHIB) & Solana (SOL) Bulls Propel Pushd (PUSHD) to Stage 6 Presale with Expectations f...

Join our free newsletter for daily crypto updates!