Bitfinex: Bitcoin expected to enter range trading period
ChainCatcher news, Bitfinex’s latest report shows that Bitcoin has reached a new all-time high (ATH) after a sharp price increase in March. It is expected that the price will enter a range trading period in the later period and volatility will increase.
According to statistics, profits captured through on-chain transactions exceed $2.6 billion, 40% of which belong to long-term holders. Further analysis shows that new investors entered the market and increased their positions in the belief that the market could rise further. Spot Bitcoin ETFs have also become an important support for the market. Last week, net ETF inflows resumed again and passive demand continued. At the current rate of inflows, demand for Bitcoin is roughly twice the value of Bitcoin produced by mining.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin set for ‘promising new year’ as it faces worst November in 7 years
From "whoever pays gets it" to "only the right people get it": The next generation of Launchpads needs a reshuffle
The next-generation Launchpad may help address the issue of community activation in the cryptocurrency sector, a problem that airdrops have consistently failed to solve.
After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?
This Thanksgiving, we are grateful for bitcoin returning to $90,000.
Trending news
MoreCrypto prices
More
