- The urge to sell in the cryptocurrency market has dwindled based on the surge of leading coins, according to on-chain insight provider Santiment.
- This is a bullish sign because once selling pressure shrinks, the demand to buy kicks in and this triggers an upward push.
- Bitcoin and Ethereum were up by 0.74% and 5.88%, respectively, during intraday trading, according to CoinMarketCap.
- A hodling culture continues to play out in the BTC market, given that the balance on crypto exchanges hit a 4-year low.
- The amount of BTC hodled or lost hit a 21-month high, according to Glassnode.
- Coins leaving exchanges illustrate a hodling trend because coins are transferred to cold storage and digital wallets for future purposes other than speculating and selling.
- The leading cryptocurrency has held the 200-week moving average (WMA) as support for three consecutive weeks.
- Bitcoin’s open interest has been experiencing an uptick, according to Blockchain.News.
The urge to sell in the cryptocurrency market has dwindled based on the surge of leading coins, according to on-chain insight provider Santiment. This is a bullish sign because once selling pressure shrinks, the demand to buy kicks in and this triggers an upward push. Bitcoin and Ethereum were up by 0.74% and 5.88%, respectively, during intraday trading, according to CoinMarketCap.
A hodling culture continues to play out in the BTC market, given that the balance on crypto exchanges hit a 4-year low. The amount of BTC hodled or lost hit a 21-month high, according to Glassnode. Coins leaving exchanges illustrate a hodling trend because coins are transferred to cold storage and digital wallets for future purposes other than speculating and selling. This is another bullish signal.
The leading cryptocurrency has held the 200-week moving average (WMA) as support for three consecutive weeks. Bitcoin’s open interest has been experiencing an uptick, according to Blockchain.News.
