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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.

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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.

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.

Casinos: 53
Profile Bitcoin
Symbol BTC
Coin type Alt Coin
Transaction Speed Slow
Pros
  • First cryptocurrency, therefore very widespread
  • Largest selection of casinos among the coins
  • Many BTC based bonus offers
Cons
  • Fairly low transaction speed
Further practical applications
Price $83,168.00
24h % -0.74 %
7d % -1.29 %
30d % 4.23 %
60d % -19.06 %
1y % 18.87 %
Market Cap $1,651,511,436,206.00
Max. Supply 21,000,000.00
Official Links
Socials Reddit | X | Message Board
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Isabella Brown

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Online Gambling, Greece and my dog Gringo are my three favorite things in my life. Before working for Kryptocasinos.com I was leading the content team of an iGaming Online magazine where I was focused on researching casinos, their licenses and the connection between the members of the industry.
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Last update: March 27, 2025

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