Hey there! Are you interested in learning about some exciting developments in the world of cryptocurrency? Recently, there has been a significant increase in demand for Bitcoin among investors known as “accumulators.” This surge was driven primarily by two factors: a decrease in the amount of Bitcoin available for selling and an uptick in demand from new investors.
According to data analytics firm CryptoQuant, Bitcoin’s accumulator addresses saw a staggering 82.6% monthly increase in net acquisitions as of December 23rd. This means that these savvy investors added roughly 225,280 Bitcoins to their portfolios during that time frame. At the same time, total sell-side liquidity – or the amount of Bitcoin available for selling – fell by around 590,000 Bitcoins due to increased buying pressure.
This trend seems to be continuing even after the recent market correction, with short-term holders now owning a whopping 3.81 million Bitcoins – just 70,000 shy of their all-time high recorded on December 15th. However, despite this positive outlook, some analysts remain cautious due to potential risks associated with changes in Tether USD (USDT) supply levels.
Overall, it seems that the cryptocurrency market remains dynamic and unpredictable. As always, it’s essential for investors to stay informed and vigilant when making decisions about their portfolios. Have you considered investing in cryptocurrencies before? Let’s chat about it over coffee sometime!
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The post Sharp Increase in Demand for Accumulator Addresses: Bitcoin’s (BTC) Net Acquisition Surges 82.6%, Total Sell-Side Liquidity Falls by 590k BTC appeared first on CoinBuzzFeed.
