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Rising Accumulation Addresses Show Bullish Sentiment in Bitcoin: CryptoQuant | video
The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let’s take a look at the chart of the day. Bitcoin reached its all-time high earlier this year. Writing about the hype around the US Bitcoin spot ETF. Since then, the largest cryptocurrency by market capitalization has seen some corrections. A new report from Biti claims that Bitcoin’s collapse since March was likely caused by long-term holders selling. The good news is that the trend has stopped. Tracking of Blockchain data by cryptocurrency Kwon shows that investors are starting to accumulate Bitcoin again, an indication of rising Bullish sentiment at 10 a.m. Eastern time, Bitcoin is trading just below $69,600. That’s it for the chart of the day. I’m Helene Braun replacing Jensen Asi. See you next time.