Today bitcoin falling, touching one of our entry zones.
According to an article published on #Cointelegraph "Bitcoin Idle Supply Hits All-Time Highs," on-chain data suggests that Bitcoin holders are increasingly accumulating, with exchange holdings at annual lows and the percentage of idle supply at all-time highs.
According to Glassnode's latest active Bitcoin supply chart, the amount of idle BTC that hasn't moved from an address for more than one, three, and five years has been at all-time highs since July 2023.
CryptoQuant charts also reflect Bitcoin withdrawals from exchanges; a figure that has steadily decreased since July 2021, with just over 2 million BTC remaining on exchanges.
Which means that the holders continue to accumulate bitcoin, and this is confirmed by the withdrawal from the exchanges to save it in their wallet, because they have full custody.
The Fear and Greed index shows that market sentiment has gone from fear to neutral from last month to today.
In my opinion, I think we are in a good area to accumulate #bitcoin in the long term, especially with adoption which continues to increase, holders accumulating, the limited amount of bitcoin that will exist and the current economic situation.
Accumulating with the DCA (Dollar Cost Averaging) strategy is a good idea, always leaving a little liquidity for the next entry points in case the market continues to fall.
This is all for now, if you liked this article remember to like, follow me and share it.
What do you think will happen to bitcoin now? I read you in the comments
We continue reading,
Erika Espinal
