[Analysis] "Bitcoin (BTC), Buying Pressure Increases in Spot Market... Signal for Continued Rise"
Minseung Kang
Summary
- An analysis has emerged indicating that buying pressure is increasing in the spot market for Bitcoin (BTC).
- The influx of buying pressure in the spot market suggests that the market is showing signs of reactivation.
- It was stated that this is a signal that a foundation is being laid for a more sustained price increase.
An analysis has emerged indicating that buying pressure for Bitcoin (BTC) is increasing in the spot market.
On the 6th, 'Negentropic', the account of the co-founder of Glassnode, stated on X (formerly Twitter) that "At the end of December last year, selling pressure in the futures market was dominant and overwhelmed the buying pressure in the spot market," adding, "Now the trend is changing, and with buying pressure gradually appearing in the spot market, there are signs that the market is reactivating."
Negentropic added, "This is a signal that a foundation is being laid for a more sustained price increase."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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