Bitcoin below $60K: A magnet for major market players?

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المملكة العربية السعودية أخبار أخبار

المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

The Bitcoin accumulation season has started despite its price failing to sustain the slight recovery it recently witnessed.

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.

 

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المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

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Bitcoin below $60k as Fed concerns, ETF outflows drag the market lowerThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
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