Short-term BTC holders also show confidence
Almost all cohorts of BTC wallets are either holding or expanding their balances, based on the HODL wave heatmap.
$BTC $XRP $SOL
All cohorts of wallets are either holding or accumulating after BTC bounced from recent lows. | Source: Bitcoin Magazine Pro
Based on the Rainbow Chart, BTC is still in the buying range, expecting a higher breakout. The coin is yet to go through accumulation before attempting a new breakout.
One of the reasons for short-term accumulation is that even the latest buyers were in profit after last week in the green.
The supply in profit reached 87.6% of holders, up from a recent low of just 80% in the green.
The price of BTC is now above the cost basis for the latest cohorts of buyers, ending the period of selling to cut losses.
BTC rallied again during US trading hours, reaching $97,283.28, after a turbulent day on the Asian markets. The leading coin has shown that its price is easily affected by leveraged trading, but returns to its rising trend within days.
Almost all cohorts of BTC wallets are either holding or expanding their balances, based on the HODL wave heatmap.
$BTC $XRP $SOL
All cohorts of wallets are either holding or accumulating after BTC bounced from recent lows. | Source: Bitcoin Magazine Pro
Based on the Rainbow Chart, BTC is still in the buying range, expecting a higher breakout. The coin is yet to go through accumulation before attempting a new breakout.
One of the reasons for short-term accumulation is that even the latest buyers were in profit after last week in the green.
The supply in profit reached 87.6% of holders, up from a recent low of just 80% in the green.
The price of BTC is now above the cost basis for the latest cohorts of buyers, ending the period of selling to cut losses.
BTC rallied again during US trading hours, reaching $97,283.28, after a turbulent day on the Asian markets. The leading coin has shown that its price is easily affected by leveraged trading, but returns to its rising trend within days.