“This implies that larger and longer-term investors currently hold profitable on-paper spot positions,” Bitfinex analysts wrote in a report. “This trend is healthy for the latter half of a bear market as a sustained 30-day uptrend after an extensive downtrend on this indicator has historically provided a good buy signal for the following two years,” the report added.
Related posts
-
Trump Champions Bitcoin Mining, Vietnamese Increase Gold Buying, and More — Week in Review
Former U.S. President Donald Trump expressed support for the bitcoin mining industry, advocating for producing the... -
An Introduction to Bitcoin Ordinals
Bitcoin Ordinals have emerged as a novel way to enhance the functionality and use of Bitcoin,... -
Robert Kiyosaki Frustrated by ‘Lame Excuses’ to Avoid Buying Bitcoin – Foresees Significant Price Rise
Rich Dad Poor Dad author Robert Kiyosaki has urged investors to buy bitcoin despite the cryptocurrency’s...