Bitcoin’s [BTC] price action continued to remain bullish as it traded above the $65k mark.
price action continued to remain bullish as it traded above the $65k mark. While that happened, long-term investors’ confidence in the coin also surged. But will that be enough to sustain this bull rally? Let’s find out.revealed that Bitcoin’s price had risen by more than 10% in the last seven days. In fact, in the last 24 hours alone, the king of crypto’s value surged by over 3%.
It was interesting to note that this increase in LTH confidence in BTC increased while several major players indulged in sell-offs. For example, AMBCryptoearlier that the German government sold all of its BTC holdings, bringing its balance to zero. Its Coinbase premium was green, which suggested that buying sentiment was strong among US investors. On top of that, BTC’s network activity was rising, which was evident from the increase in its active addresses compared to the last day.had a reading of 75%, indicating that the market was in a “greed” phase.
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