Bittime - Analyst Ali, in his post, discussed the increase in Bitcoin (BTC) inflow to accumulation addresses.
This address refers to the wallets of Bitcoin HODLers (Hold On for Dear Life), long-term investors who are reluctant to sell their Bitcoin (BTC).
Conditions for being categorized as an accumulation address:
- Have no record of outgoing transfers (sales)
- Receive a minimum of two incoming transactions
- Have a balance of more than 10 BTC
Exchange wallets and Bitcoin miners are not included because they represent the seller side of the market.
The Bitcoin (BTC) supply held by accumulation addresses is considered “locked” because these HODLers are less likely to sell. As they buy more Bitcoins, the number of Bitcoins available on the market decreases.
High Buying Activity from HODLers
The CryptoQuant graph that Ali shared shows the trend of Bitcoin inflows to accumulation addresses since the beginning of the year. This inflow is relatively high this month, indicating that HODLers are actively buying Bitcoin (BTC).
Also Read How to Buy Crypto:
On the 1st of this month, the inflow metric reached a value of 21,400 BTC, worth more than $1.4 billion. This number is close to the ATH (record high) of 25,300 BTC achieved one and a half months ago.
Positive Signals for Bitcoin (BTC)
This latest buying activity from HODLers is a positive signal for Bitcoin (BTC). Bitcoin (BTC) seems to be stabilizing again and showing a slight recovery in the past day.
Conclusion
The high buying activity of HODLers shows their confidence in the long-term prospects of Bitcoin (BTC). This can trigger a bullish trend (increase) in Bitcoin (BTC) prices in the future.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Increasing USDe Transparency, Ethena Publishes Monthly Reports from Security Providers
Watch Out for New Trap! Stablecoin USDe Ethena Threatens Bitcoin with Terra-Like Collapse
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.