"Strong signal" of an upcoming bull run.
Santiment released this information on social media. Content Overview: The supply of Bitcoin and Ethereum mining wallets has been declining since the first half of 2024. But there has been a mild rebound recently, which indicates that the total supply will increase, which Santiment believes is a "strong signal" that the next bull run is coming.
Since the first half of 2024, the supply of Bitcoin and Ethereum mining wallets has continued to decline. This may be related to a variety of factors, such as declining miner returns, increased mining difficulty, and low market sentiment. A decline in supply may mean that miners are selling or transferring less of their cryptocurrency holdings, which usually reflects market participants' cautious attitude towards short-term price trends or optimistic expectations for the future market (although it may be pessimistic in the short term).
Mild rebound: The recent mild rebound in supply may be a positive sign that miners or holders are starting to increase their supply, which may be due to improved market sentiment, stable market prices, or expected future price increases. The magnitude and duration of the rebound will directly affect the effectiveness of this signal. If the rebound can be sustained and accompanied by other positive market indicators (such as increased trading volume, capital inflows, etc.), it is more likely to be regarded as a precursor to a bull market.
Comprehensive considerations: When evaluating this signal, other market factors should be considered comprehensively, such as the macroeconomic environment, policy supervision, market sentiment, technological progress, etc. At the same time, it is also necessary to pay attention to subsequent market performance and data changes to verify the effectiveness of this signal.
The observation and analysis of changes in the supply of Bitcoin and Ethereum mining wallets provide a certain reference for the market. However, investors should be cautious when making decisions, comprehensively consider multiple factors and pay close attention to market dynamics. In addition, it should be noted that any market forecast is uncertain, and investors should do a good job of risk management and make reasonable investment decisions based on their own circumstances.
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