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Bitcoin purchases soar to all-time high
There has never been so many addresses accumulating bitcoin without selling as there are currently, indicating a bullish signal for the market.
Stopping bitcoin purchases does not seem to be an option for the bulls. Source: stock.adobe.com
The price of bitcoin remains in consolidation after marking an ATH this week. Profit-taking is counteracting the demand pressure.
The demand for bitcoin (BTC) from investors who are not selling their holdings in this digital currency has surged to unprecedented levels, according to data from the on-chain explorer CryptoQuant.
This is evidenced by the market metric called demand from accumulator addresses, which this week surpassed 260,000.
