Here’s why Bitcoin’s bull market case shouldn’t be dismissed just yet!
Despite recent consolidation between $88,000 and $91,000, Bitcoin's bull market case remains intact. Key on-chain metrics suggest underlying strength: 71.5% of the supply is still in profit, though a move back above 75% would support a more stable upward trend. Whales are accumulating significantly, with balances reaching 3.2 million BTC—the highest since early January—indicating strong conviction at current levels. Meanwhile, long-term holders remain inactive, as shown by a Binary CDD reading of 0, reflecting a continued bullish outlook. While retail investors are selling, institutional and long-term player behavior suggests the market is building a foundation for a potential rebound.
ambcrypto01/23 07:03
