bullish

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-transactions-reach-six-month-high-as-addresses-increase/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Transactions Reach Six-Month High as Addresses Increase</a><br></p>
<p style="text-align: justify">Recent data indicates that Bitcoin (BTC) transactions have surged to their highest level in six months. According to analyses from IntoTheBlock, the increase in addresses holding BTC has significantly contributed to this rise. The <a href="https://en.coin-turk.com/puffer-finance-secures-18-million-for-mainnet-launch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">blockchain</a> analysis firm announced this development via social media.</p>
<h2 id="increase-in-addresses-and-rising-trend">Increase in Addresses and Rising Trend</h2>
<p style="text-align: justify">IntoTheBlock highlighted that addresses holding BTC tokens for less than 30 days have played a crucial role in this increase. This trend typically signifies a market favorable to growth. The current scenario is being compared to similar behaviors observed during the bull markets of 2017 and 2020/21.</p>
<p style="text-align: justify">Another supporting factor is the rise in open positions in the derivatives market. The bullish trend, especially towards long positions, suggests that market expectations are optimistic. Open positions represent the total active contracts in the derivatives sector and serve as an indicator of overall market sentiment.</p>
<h2 id="role-of-short-term-investors">Role of Short-Term Investors</h2>
<p style="text-align: justify">Analyses reveal that short-term BTC investors are engaging in aggressive trading and continuously increasing their Bitcoin positions. This accumulation is generally viewed as a bullish signal. Short-term investors aim to obtain immediate returns while anticipating price increases.</p>
<blockquote>
 <p>“Bitcoin accumulation and trading activity indicate the broad effects of changes in the macroeconomy.”</p>
</blockquote>
<p style="text-align: justify">IntoTheBlock noted that the growing demand for Bitcoin reflects changes in the macroeconomy, with real results expected in the coming months. The current market state parallels previous experiences, suggesting that the surges witnessed in 2020-2021 and 2017 may herald an impending bullish trend.</p>
<p style="text-align: justify">The measured data sheds light on Bitcoin’s potential future movements, standing out as a significant indicator for traders and analysts alike.</p>
<p>The post <a href="https://en.coin-turk.com/bitcoin-transactions-reach-six-month-high-as-addresses-increase/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Transactions Reach Six-Month High as Addresses Increase</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bitcoin Transactions Reach Six-Month High as Addresses Increase

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