Data from Glassnode reveals that Bitcoin (BTC) has experienced a substantial increase in accumulation over the past 30 days, with investors accumulating around 88,000 BTC. This is particularly notable since only 13,500 BTC were mined during the same period. The last time we saw such intensive accumulation was in Q4 2023, when Bitcoin's price surged significantly. This suggests growing demand and potential bullish momentum in the market.

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Activity period: 2024/09/23 12:00:00 - 2024/09/27 16:59:59 (UTC)

https://www.binance.com/vi/activity/marketing-campaign/be4eac81fcf147a886cc5dd628f7561b

At the beginning of the year everyone was shouting about trending, why are they putting potties on their heads now?

Bitcoin is approaching a retest of the $60,000 level. Let's see if the price is able to break above this level or not. The market is once again giving mixed signals.

Bitcoin was rejected from the resistance area and was unable to hold the $60,000 support. Things are taking a negative turn, and BTC needs to reclaim the $60,000 level. Let's see how things go this week.#btc

Bitcoin is attempting to break through the resistance area but has not succeeded yet. We will likely continue to see sideways movement over the weekend, with more significant action expected on Monday when global markets open. Altcoins are displaying strong movement, and we could see further upward movement if BTC remains sideways.

As expected, Bitcoin tested the $65,000 resistance level but failed to break it on the first attempt. We will see another test of the resistance zone to see if the price can break through this level. This is an important zone for BTC.

#CZ will be released from prison on September 29

#BTC just waiting for major breakout resistance then we can see $70,000
But remember guys, 4 months to Q4#BitcoinSuper Bullish
If#Trumpis election then we will see above $120,000 (1 #BTC)

🚨 HOT: Dogs (DOGS) will be listed on Binance Launchpool

#BITCOIN Heading towards 67-70k. Bullish speaker structure pattern still in place.

New record highs to come later. Bears will be left behind 👌🏽 .
#BTC☀

Bitcoin was once again rejected from the $60,000 resistance level and the price is returning to sideways territory. The sideways trend is likely to continue for the next few days.

Negative funding rates usually mean shorts are paying longs, indicating bearish sentiment. However, in 2024, Glassnode data shows that #Ethereum's funding rates have predominantly been positive, pointing to a bullish outlook from the market.

That said, Bitcoin is giving mixed signals and the price has dropped below $60,000 again. The lower support level is at $55,000-$56,000 and a test of this level is expected before the next move.

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Bitcoin Dominance continues to trend up as expected. Dominance is now dropping and we can see the local support zone being tested.
Local Support Zone: 56.75-56.85%
Major Support Zone: 54.90-55.30%

According to Glassnode, long-term holders are seizing the opportunity during market declines, steadily increasing their Bitcoin purchases. This accumulation trend reflects confidence in Bitcoin's long-term value, even as prices fluctuate in the short term.

Look at the pressure on the owner's behalf, put the immortal red book of the house on me #STRK✈️

Why do you think the view bit increased to 70k?