• Assessing the possibility of sell pressure resurgence as Bitcoin forms death cross.
• Bitcoin whales have been contributing to BTC’s dormancy and downside but have recently eased off sell pressure.

Bitcoin is currently in one of its longest crypto winters, which is expected to end sometime soon. So far we have seen some signs that the current bear market could be approaching its tail end.

Read Bitcoin’s [BTC] price prediction 2023-24

Bitcoin’s current performance is a stark contrast compared to its performance 12 months ago. In fact, one could argue that Bitcoin might be at the early stages of its next bull market considering its current premium.

Perhaps even more convincing is the observation that Bitcoin addresses have been growing at a rate of around 527,000 addresses per day.

As #Bitcoin continues to fluctuate around $26,000, an interesting trend emerges. Around 527,000 new $BTC addresses are being created daily, representing a new yearly high!

For those unfamiliar, this suggests more people are showing interest in #BTC, even if its price has seen… pic.twitter.com/7O0NcoJjMz

— Ali (@ali_charts) September 8, 2023

The above address growth underscores the Go to Source to See Full Article
Author: Michael Nderitu

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