🧧🧧Bitcoin Investors Are Back: This Investor Group Has Started Buying BTC 🚀🚀
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Bitcoin has officially returned to its accumulation phase with the latest data analysts expecting a close price boom. Could this help Bitcoin price go above $66,000 by September? Bitcoin's long-term investor savings rate reached a 15-month peak, according to popular analyst On-Chain College. In its August 15 X post, the college announced that investors have returned to savings.
Bitcoin investors have returned to savings in the last month, according to Glassnode's August 15 X post. This post read: 'The Accumulation Trend Score shows that the market is returning to the accumulation as ATS reaches its 1.0 maximum value, and this indicates a significant accumulation in the last month.'
Accumulation Trend Score (ATS) is a heat map used to analyze market behavior based on different groups of Bitcoin holders.
The next major resistance has now dropped to $59,000. A potential upward move would lead to the liquidation of over $700 million in cumulatively leveraged short positions, according to Coinglass data. If Bitcoin's price rises above $59,300, short Bitcoin liquidations could exceed $1 billion.
