đŁ Hey, crypto enthusiasts! đ The BTC market might be on the rebound, according to CryptoQuant's latest data.
⢠Bullish momentum is on the rise đ
⢠BTC demand is picking up steam
⢠Stablecoin liquidity growth is speeding up
The Bitcoin Bull-Bear Market Cycle indicator suggests we're in the least bullish state since the 2023 banking crisis. But with BTC around $61k, we need more bullish momentum to recover.
⢠BTC demand growth needs to match Q1 levels
⢠Permanent Bitcoin holders are buying at a monthly pace of 72k BTC
⢠Bitcoinâs ultimate price support level is $56k
Positive on-chain unrealized profit margins could signal incoming rallies. Increased BTC flow to Coinbase indicates a rise in U.S. investor demand.
⢠Stablecoin liquidity growth is crucial for price increases
What do you think? Has Bitcoin bottomed out? Share your thoughts below! đ #Bitcoin #CryptoMarket #DeFi