Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
A drop in trading activity on exchanges could be a positive signal for Bitcoin, as it indicates the beginning of the accumulation stage, said analysts at the on-chain platform CryptoQuant.
Related Posts
The current situation in the Bitcoin market, according to analysts, resembles the beginning of 2024. Then bursts of activity indicated overheating. Now there is a cooling and stabilization of the rate of the first cryptocurrency.
“Such a phase often precedes a bullish impulse. Weak players sell the asset, and informed buyers return to the market again. The fact that activity volumes are falling is good for Bitcoin,” noted CryptoQuant.
To start a real rally, further easing of the monetary policy of central banks is necessary. It should spur economic growth and increase investor appetite for high-risk assets.
As confidence in the market is restored, Bitcoin may receive additional impetus due to structural demand, which usually manifests itself in the early stages of a new cycle, experts concluded.
Earlier, crypto industry veteran, trader and CEO of 10T Holdings Dan Tapiero said that within the current market cycle, the Bitcoin rate could reach $180,000. The reason is growing demand and changes in global monetary policy.
