Summary
- CryptoQuant announced that the demand for BTC from permanent Bitcoin holders is rapidly increasing.
- Currently, permanent holder demand has exceeded the 30-day moving average, which is said to be an indicator that typically precedes a market uptrend.
- As of 6:33 p.m., the Bitcoin price is trading at $106,952 on Binance, up 1.93% compared to 24 hours ago.
An analysis has indicated that the demand for BTC from permanent holders of Bitcoin (BTC) has increased.
On the 16th (local time), CryptoQuant announced via X (formerly Twitter) that "demand for BTC from permanent Bitcoin holders is surging," adding, "Currently, permanent holder demand has exceeded the 30-day moving average."
Furthermore, they explained, "Permanent holders consist of owners who accumulate Bitcoin but never participate in trading," and stated, "A sharp rise in this indicator typically appears before a market uptrend."
As of 6:33 p.m., Bitcoin is trading at $106,952 on the Binance USDT market, up 1.93% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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