Cryptocurrency market: Bitcoin maintains price above 100,000 USD
Bitcoin price trends after the new peak
According to reliable sources, on June 22, the price of Bitcoin remained above 100,000 USD for 45 consecutive days. Despite some minor fluctuations, this largest cryptocurrency in the world has maintained its position in the high price range. The most recent peak on June 16 saw Bitcoin reach 108,990 USD each. After that, the price slightly adjusted to around 103,000 USD, reflecting the natural fluctuations of the cryptocurrency market.
Large transfers from old addresses
In the past 3 days, many Bitcoin addresses created in 2017 have executed notable transfer transactions. In total, approximately 801.58 BTC has been transferred, worth nearly 83 million USD at current exchange rates. These are transactions from long-term investors, reflecting movement in cryptocurrency market sentiment after a long period of accumulation.
The impact of on-chain activities on Bitcoin price
Large transactions from old addresses
The fact that old addresses, which have been silent for a long time, are starting to transfer BTC indicates a change in behavior among veteran investors. These movements often predict the possibility of distribution or re-accumulation of wallets with large balances. If this trend continues, it could positively or negatively affect the price of Bitcoin in the near future.
Market analysis and investment strategy
Analysts predict that when long-term addresses transfer BTC, it may signal profit-taking or preparation for new growth trends. Investors need to closely monitor this on-chain activity to identify suitable investment opportunities. The cryptocurrency market is always volatile and extremely sensitive to signals from large wallets that have accumulated for a long time.
Conclusion: Potential and risks in the cryptocurrency market
Bitcoin continues to hold the top position in the cryptocurrency list by market capitalization. However, large transfer activities from long-term addresses indicate temporary instability or preparation for a new growth phase. Investors need to carefully analyze on-chain data in conjunction with global market trends to make informed decisions. The cryptocurrency market is both a profitable playground and contains many unpredictable risks.
Source: https://tintucbitcoin.com/chuyen-801-btc-sau-8-nam-trao-doi/
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