According to the latest data, Bitcoin (BTC) 
$69,625 Transactions reached a six-month high. According to IntoTheBlock’s analysis, the increase in BTC holder addresses contributed to this rise. Blockchain analysis firm announced this development on social media.
Increase and Upward Trend in Addresses
IntoTheBlock stated that addresses holding BTC tokens for less than 30 days played an important role in this increase. This is part of a pattern that usually indicates a positive market. The current scenario compares with similar behavior in the bull markets of 2017 and 2020/21.
A further supporting factor is the increase in open positions in the derivatives market. Especially the rise in long positions shows that the market expectation is positive. Open interest refers to total active contracts in the derivatives industry and is used as an indicator of overall market sentiment.
The Role of Short-Term Investors
Analysis reveals that short-term BTC investors are trading aggressively and constantly increasing their Bitcoin positions. This accumulation is generally considered a bullish signal. Short-term investors aim to earn immediate returns while waiting for a price increase.
“Bitcoin accumulation and trading activity also point to broader impacts of changes in the macroeconomy.”
IntoTheBlock stated that the increased demand for Bitcoin indicates that the macroeconomy has changed and real results are expected to be seen in the following months.
The current situation of the market is in line with past experiences. Increases in 2020-2021 and 2017 may herald an upcoming bull trend in market sentiment.
While measured data sheds light on Bitcoin’s potential future movements, it stands out as an important indicator for investors and analysts.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
