Bitcoin

<ul><li>CryptoQuant indicators now signal a Bitcoin bull market, reversing recent trends.</li><li>Large holders bought $5B in Bitcoin in July, the highest monthly since 2014.</li><li>Most Bitcoin holders are in profit, with strong support below $58,932.</li></ul>Most <a href="https://cryptotale.org/analyst-predicts-15b-liquidations-as-btc-nears-72k-mark/" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) on-chain cyclical indicators have previously hovered near the Bull-Bear Market Cycle Indicator borderline. However, they have now shifted to signaling a bull market, according to recent insights shared by Ki Young Ju, Founder and CEO of CryptoQuant. This development comes after Bitcoin was discounted for only three days, marking a notable change in market sentiment.The CryptoQuant Bitcoin Bull-Bear Market Cycle Indicator offers a comprehensive view of Bitcoin&#39;s current market phase. The chart reveals distinct market phases, each signaling different trends. During February and March, Bitcoin briefly touched the &#34;Overheated Bull&#34; red zone, indicating a potential overvaluation, with prices exceeding $67,000.However, most of the observed period from March through early May falls within the &#34;Bull&#34; orange zone, where Bitcoin&#39;s price ranged between $55,000 and $65,000. This phase suggests a steady upward trend. Meanwhile, a dip into the &#34;Bear&#34; blue zone around mid-July saw Bitcoin&#39;s price briefly fall below $55,000, reflecting a period of market correction.<a href="https://cryptotale.org/btc-indicators-shift-to-bullish-as-large-holders-accumulate/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

BTC Indicators Shift to Bullish As Large Holders Accumulate

CryptoTale

Other articles published on Aug 10, 2024

Best Memecoins to Stock on Before Autumn Crypto Rally

Michael Saylor Issues 'Bitcoin Future' Tweet as BTC Holds at $60,000

$55 Million of Solana (SOL) Moved to Exchanges, What’s Happening?

Future-Proof Investments: Unveiling the Best Crypto Presale Platform While Quant Bridges Gaps in ...

Bitcoin (BTC) Targeting New Highs After Bouncing Back Above $60K; Rollblock Surges 100% as Analys...

Maximise Your Gains With Gnosis: This Best Crypto Presale Platform Offers Unmatched Investment Op...

Join our free newsletter for daily crypto updates!