5 key reasons why Bitcoin will likely see new all-time highs soon By Cointelegraph – Investing.com

SourceInvesting.com
SectorFinancial Markets
CountryMiddle east

5 key reasons why Bitcoin will likely see new all-time highs soon The price of (BTC) has been under severe selling pressure by whales for the past two months, on-chain data reveals. However, five key indicators suggest that major sellers are about to turn into hodlers or even accumulators of Bitcoin again, while institutional demand remains high. This is an explosive setup that may send Bitcoin to new all-time highs in the near term.Whales stopped sellingNumber of addresses with a balance equal to or greater than 1,000 BTC. Source: GlassnodeLong-term hodlers selling Bitcoin are slowing downBitcoin coin days destroyed, 21-day moving average. Source: GlasssnodeMiners have turned into Bitcoin accumulators againBitcoin miner net position change.

Source: GlasssnodeInstitutional demand remains highBitcoin net transfer volume from/to exchanges, 14-day moving average. Source: GlasssnodeBitcoin balance on exchanges. Source: GlasssnodeWeekly ascending triangle close to a break 1-week candle chart. Source: TradingViewContinue Reading on Coin Telegraph ...read more...