[Analysis] "Buying pressure from the United States rising…Classic bull market pattern"
Summary
- It was reported that buying pressure from United States investors is indicating a Bitcoin (BTC) bullish cycle.
- With the Coinbase premium rising, it was stated that the buying momentum from United States investors is being supported.
- According to the expert, this wave of buying is a classic bull market pattern, suggesting a possible optimistic trend in the cryptocurrency market in the second half of this year.
There is analysis suggesting that the buying pressure from United States investors is indicating an upward cycle for Bitcoin (BTC).
Crypto Dan, a contributor at CryptoQuant, stated on the 10th through CryptoQuant, "The current market has continued its upward trend since April 21," and added, "The Coinbase premium has been gradually rising, which shows that buying support from United States investors is present." Crypto Dan also mentioned, "We are starting to see some buying pressure from whales as well."
Regarding this buying activity, Crypto Dan emphasized, "This is a typical pattern that emerges after a correction in a bull cycle." He further stated, "It suggests the possibility of an optimistic trend unfolding in the cryptocurrency market in the second half of this year."
JOON HYOUNG LEE
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