Bitcoin Spot Demand Increases Amid Declining Short-Term Holder Profits
Bitcoin (BTC) shows strength despite a minor pullback, trading at $104,820 after briefly hitting $106,518. This is 3.8% below its all-time high of $109,000.
Binance Spot Volume Indicates Renewed Interest
- Positive spot net volume delta on Binance suggests increased demand for Bitcoin.
- Rising spot volume can reflect trader interest but may coincide with local price tops.
- Previous surges in volume linked to market tops driven by sentiment shifts.
- Binance accounts for over 26% of global spot volume, providing insights into market sentiment.
Bitcoin MVRV Momentum Divergence Signals Short-Term Risk
- Short-term holders show declining MVRV momentum, indicating potential sell pressure.
- Divergence between long-term and short-term holders may signal shifts in market dynamics.
- Positive momentum and strong spot demand suggest continued strength for Bitcoin if risks do not escalate.
