• Bitcoin was still in the accumulation zone at press time.
• Long-term investors have good reason to be excited about this cycle’s price performance.

Bitcoin [BTC] was on the rise once more. Despite still having a bearish weekly structure, its move beyond the descending channel gave bulls some hope. The “Super Signal” it flashed recently was seen as a strong bullish sign.

Data from Farside Investors showed that the previous week saw heavy inflows into the Bitcoin spot ETFs. Through these positive developments, the price of BTC remained below $70k.

Bitcoin Rainbow Chart strongly advocates buying

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Author: Akashnath S

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