Bitcoin Miners Hold Steady as Institutional Demand Grows
Key Takeaways
Bitcoin miners are keeping their reserves stable, indicating confidence in future price increases. Institutional investors like BlackRock continue to accumulate BTC, reinforcing the positive market sentiment. Technical indicators suggest a possible continuation of the upward trend.
Stable Miner Reserves as a Market Indicator
Bitcoin miners have not shown significant selling activity in the past 24 hours. Their reserves remain stable, suggesting they are waiting for better market conditions to sell their holdings. This behavior can be interpreted as a sign of expected further price growth.
Bitcoin Price Development and Technical Analysis
At the time of analysis, Bitcoin was trading at $88,020.88, reflecting a 1.53% increase within a day. BTC has broken a descending trendline and is showing strong buying interest in a support zone.
The Bollinger Bands indicate a possible consolidation or an impending breakout. The Relative Strength Index (RSI) stands at 53.25, signaling a neutral market sentiment without overbought or oversold conditions.
On-Chain Data: Majority of BTC Addresses in Profit Zone
According to the “In/Out of the Money” analysis, 78.28% of Bitcoin addresses are in profit. This suggests strong support levels below the current price. Since only a few investors are experiencing losses, there remains upward potential without major corrections.
Net Unrealized Profit/Loss (NUPL) Indicates Positive Sentiment
The current NUPL value of 0.501 shows that the market is in a profit zone. A positive NUPL value signals that the majority of BTC holders are not under pressure to sell their holdings, supporting market stability.
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Institutional Investors and Whales Strengthen the Positive Trend
Large market participants are showing increased interest in Bitcoin. Recently, 2,760 BTC were transferred from a whale address. Additionally, BlackRock acquired BTC worth $42 million earlier this year. These purchases suggest that institutional investors are betting on long-term price increases.
Our Assessment
The combination of stable miner reserves, positive on-chain data, and institutional purchases supports the continuation of Bitcoin’s upward trend. If the current market sentiment persists, BTC could see further price gains in the coming days. The next trading sessions will be crucial in determining the sustainability of this trend.
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
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| Further practical applications | |
| Price | $84,321.00 |
| 24h % | -1.13 % |
| 7d % | -0.14 % |
| 30d % | 1.13 % |
| 60d % | -12.34 % |
| 1y % | 32.06 % |
| Market Cap | $1,674,647,828,211.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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