- 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.
Source: Farside Investors
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.
