#BinanceTurns8 and the shock of the presentation approaches

Bitcoin has seen a significant increase of 10% this week, pushing its price to an all-time high (ATH). This bullish momentum indicates positive expectations for the cryptocurrency, as investors continue to show strong demand for it.

Bitcoin (BTC) is once again on track to record new price highs, driven by its increasing popularity and investor confidence.

Bitcoin investors are extremely optimistic

Short-term investors (STH) are showing strong optimism towards Bitcoin, as evidenced by their increasing accumulation behavior. Over the past month, the 'Shrimp' group has added more than 19,300 Bitcoins to its holdings.

Meanwhile, Bitcoin miners have released only 13,400 Bitcoins, indicating a significant imbalance between demand and supply.

The continued net absorption of STH, along with the decline in new BTC issuances, indicates an adjustment on the supply side. This adjustment is a critical factor in the price movement of the leading cryptocurrency.