has been persistently trading below the $60,000 mark, and recent data indicated that various entities have started accumulating it during this price consolidation phase.
The trend score, at 0.4 at press time, marked a significant shift, suggesting that entities have begun accumulating BTC after a distribution period. A score approaching 1 implies that larger entities are actively accumulating BTC, a bullish signal. Conversely, a score near 0 suggests that these entities are either distributing their holdings or abstaining from further accumulation.
Such behavior often precedes broader market recoveries, as significant accumulation phases by large holders can reduce market supply and help establish stronger price support levels.According to an analysis of the active addresses chart on Glassnode, there has been a sharp decline in activity recently.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »