As US-based investors regain their confidence in the Bitcoin market, a significant trend change has been occurring in the cryptocurrency market since April 21.
According to the latest report shared by the cryptocurrency analysis platform CryptoQuant, since April 21, Bitcoin (BTC) has started to show a net trend change. Notably, whale purchases on the Binance exchange have been noticeable before each rise, followed by the movements of whales on the US-based Coinbase exchange, and market sentiment has gradually turned positive.
According to the report by Crypto Dan, an analyst from CryptoQuant, the continuous positive territory of the Coinbase premium as a notable indicator shows that the demand from US investors is strong and that the recent upward momentum has seen limited resistance from correction pressure.
A structural change is occurring in the market
It is clearly seen that the market atmosphere has changed significantly before and after April 21. Experts indicate that signs of a structural change are being observed rather than just short-term rallies. This suggests that the recovery in the market could indicate a more permanent trend change rather than a temporary movement.
