Key points:
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Bitcoin’s ceiling broken records and has almost reached the $ 900 billion mark.
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The market laid the foundations of a “potentially significant price escape”, according to a new analysis.
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The profits do not hinder the overall rebound in the Haussier market.
Bitcoin (BTC) defines new heights of all time in the value of the network while the BTC price action looks at a six -digit return.
The data from the onchain Analytics cryptocizing platform confirm the new records for the Bitcoin ceiling.
Bitcoin realized that Cap reflects “growing conviction”
Bitcoin is worth more than ever in US dollars if its market capitalization is measured by the value to which the existing offer has moved last time.
Known as the CAP achieved, this figure has experienced heights of all continuous time since mid-April while BTC / USD stage a sustained recovery, and May 7, at 891 billion dollars.
“Bitcoin has experienced a constant flow of capital entries in recent weeks, reflecting a renewal of investors’ interests,” said Cryptoque contributor Carmelo Alemán in one of his blog articles “Quicktake” on May 7.
Alemán argued that the upward trend of the ceiling carried out reflects a long -term market change through the spectrum of Bitcoin investors.
“This new summit of all time in the ceiling carried out not only reflects an increase in invested capital, but also an increasing conviction in the long -term potential of Bitcoin as a financial ratio,” concluded the position.
“With a sustained accumulation of LTH and STH, the market seems to build a solid base for an escape from potentially important prices. If this trend continues, we could attend the early stages of a new bull cycle for Bitcoin.”
BTC Capital Afflux in progress since 2023
As Cointelegraph reported, concerns remain on the fate of the current rebound in the market.
In relation: BTC Dominance due to “collapse” at 71%: 5 things to know in Bitcoin this week
Doubts about taking advantage in particular form reasons to suspect that higher prices may not last – LTH and STH entities have taken the opportunity to lock the profits, on average $ 1 billion per day.
In the latest edition of its ordinary newsletter, “The Week Onchain”, the research company Glassnode nevertheless maintains that the conditions of purchase and sale are balanced at around $ 100,000.
“An increase in profits can be observed in recent weeks, the recent gathering attracting more than $ 1 billion / day at net capital entries,” he wrote.
“This indicates the first indicators of a return on the request, allowing sellers to lock the profits and speak to buyers arranged to collect parts at the current market price. In general, this indicates a wave of demand that absorbs the incoming offer.”
Glassnode added that the quest for profits is actually extended for more than 18 months.
“In particular, the market has undergone a regime focused on the profits since October 2023, capital entries constantly exceeding outings. This constant influx of fresh capital serves as a global constructive signal,” he said.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
