Here are three key recent events that highlight why we’re still in a super bullish phase:

1. Whale Accumulation

- Bitcoin whales are on the move again. According to Glassnode’s Trend Accumulation Chart, wallets holding at least 100 BTC have started to accumulate more. Additionally, the Realized Cap HODL Wave chart reveals that 45% of all Bitcoin hasn't moved in the past six months, indicating strong holding behavior among long-term investors.

2. Positive Financial Data

- Recent economic data is also supportive of a bullish outlook. The Producer Price Index (PPI) and Consumer Price Index (CPI) came in lower than expected, which is a positive sign for the market. With rate cuts anticipated as early as September, the macroeconomic environment could further fuel Bitcoin's rise.

3. Growing Institutional Demand

- The appetite for Bitcoin among institutions is increasing. Companies, financial institutions, and wealth managers are buying up Bitcoin ETFs or shares of MicroStrategy to gain exposure to BTC. Firms like Metaplanet, Semler Scientific, Marathon Digital, and MicroStrategy are even taking out loans or selling debt to raise funds to purchase more Bitcoin.

These events reinforce the idea that despite any short-term fluctuations, the overall market sentiment remains strongly bullish.

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