Bitcoin Long-Term Holder Realized Cap Exceeds $20 Billion Amid Bullish Signals
Key indicators suggest a bullish trend for Bitcoin (BTC) despite recent volatility.
Current Market Overview
Bitcoin is trading around $105,022, approximately 6.1% below its all-time high recorded on May 22. The cryptocurrency has experienced a decline of over 3.5% in the past week amid global trade concerns.
Emerging Bullish Signals
- LTH Net Position Realized Cap surpassed $20 billion, indicating increased confidence among long-term holders (LTH) who typically hold BTC for over 155 days.
- Major exchanges like Kraken and Bitfinex reported significant BTC outflows, with over 20,000 BTC withdrawn in two days, suggesting investors are holding rather than selling.
- Binance's market dominance in BTC spot trading volume rose from 26% to 35%, reflecting increased activity.
The combination of rising exchange dominance, LTH confidence, and reduced supply points to continued bullish potential for Bitcoin.
Market Dynamics
- BTC derivatives market shows neutral funding rates around zero, indicating no strong directional bias.
- Selling pressure remains low, evidenced by subdued inflows to Binance.
- Caution is advised as some data hints at potential issues affecting the sustainability of current bullish momentum.
As of now, BTC is priced at $105,022, having decreased by 0.3% in the last 24 hours.