High-conviction Bitcoin buyers have been accumulating since January, according to Glassnode. The behavior closely resembles the accumulation seen during the 2022 market bottom, but this cycle the cohort has absorbed an even larger share of $BTC supply.
👉 This suggests that long-term conviction is strengthening beneath the surface, with stronger hands using weakness to build positions. If this accumulation continues, it could provide an important foundation for Bitcoin's next sustained recovery. 📈
$ANKR /USDT near $0.003760 as price resolves above daily descending trendline resistance. Holding above this breakout level validates pattern resolution, opening the path for a short-term momentum expansion targeting local overhead supply zones.
$BTC — The First Powerful Signal to Emerge in This cycle.
This signal is the very movement that appeared as the bottom range came to an end in every past downcycle. suggesting that the possibility of the market turning from decline to ascent is growing.
$BAT /USDT as price action tests the upper neck/rim of a Cup and Handle structure. Securing a clean breakout above resistance confirms pattern resolution, clearing the path for a short-term momentum expansion targeting local supply zones.
$PEOPLE /USDT following a clean breach of its key resistance zone. Holding above this breakout level validates pattern resolution, opening the path for a short-term momentum expansion targeting local supply zones.
$SUN /USDT following a clean breach of its Cup and Handle structure. Holding above the breakout level validates pattern resolution, opening the path for a short-term momentum expansion targeting local supply zones.
$GTC /USDT near $0.08820 as price resolves above 4H descending trendline resistance. Holding above this breakout level validates pattern resolution, opening the path for a short-term momentum expansion targeting the upper supply zone.
High conviction buyers have been accumulating $BTC since January. We saw similar behavior in 2022. This cycle, the share of supply that was bought by this cohort is even larger than last cycle.
📈 Glassnode: $HYPE and $ETH are leading the way in terms of growth among major crypto assets. Although many coins are posting double-digit gains, these two assets are outperforming all other major ones.
$ZRO /USDT following a clean breach of its falling wedge structure. Holding above prior descending resistance validates pattern resolution, opening the path for a short-term momentum surge targeting local overhead supply zones.