Bitcoin: Evaluating the current market conditions in the wake of FUD

Bitcoin [BTC]: Evaluating the current market conditions in the wake of FUD

Short positions against Bitcoin rise as the MVRV ratio increases.

has undergone substantial price fluctuations in the past few months. This has raised speculations about its future prospects. However, data from CryptoQuant suggests that Bitcoin could now be in a bull market. And this might continue for a while.CryptoQuant’s cycle indicator has been on the rise in recent days. This suggested a positive outlook for BTC.

Additionally, short-term Bitcoin holders have started to make a profit, with data from CryptoQuant showing a increase in profits over the past few months. This is yet another sign that shows- BTC is entering a bull market.However, a contrarian view was noted of late. In recent days, Bitcoin’s exchange inflow went up with a significant portion of the surge coming from whales and miners. This has led to the highest levels of inflow seen in 2023.Meanwhile, at press time, the amount of HODLed BTC reached a 5-year high of 7.6 billion BTC.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CryptoAmb /  🏆 22. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin [BTC] bulls undeterred by macro mayhem, new report showsIn its new report, Galaxy found that BTC traders have remained optimistic. On-chain data suggests that BTC’s price could rise further if positive conviction remains. While uncertainty lingers around the Federal Reserve’s rate decisions, on-chain data revealed that optimism subsists in Bitcoin’s [BTC] market, as many expect the king coin’s price to grow further, Galaxy […]
Read more »

Evaluating SushiSwap’s [SUSHI] renewed tenacity amid possible tribulationDeposits on SushiSwap continue to increase despite potential probe. The community is in support of the legal fundraising as sentiment around the project reflects optimism. Between 21 March and the time of writing, activities on the SushiSwap [SUSHI] protocol remained increasingly steadfast. Surprisingly, this has been the case despite a recent revelation that the Automated […]
Read more »

Hershey ‘evaluating’ if it can eliminate lead, cadmium in its chocolate: CFO - National | Globalnews.caConsumer Reports, a nonprofit consumer group, tested chocolate bars including those made by Hershey last year and found that some of them contained possibly harmful levels of lead and cadmium.
Read more »

Bitcoin Ordinals expands into Magic Eden: All you need to knowMagic Eden has launched its own marketplace for Bitcoin Ordinals. The total number of Bitcoin Ordinals inscriptions has increased from 679 to 240,000 until 1 March. Popular NFT marketplace Magic Eden has launched its own marketplace for Bitcoin [BTC] Ordinals, capitalising on the growing interest in “Bitcoin NFTs.” Welcome to a new dawn. Magic Eden […]
Read more »

New Minas, N.S., double lung transplant survivor welcomes new pulmonary test equipment | SaltWireA New Minas man knows first-hand that when a person’s ability to breathe is compromised, little else matters.
Read more »

New Minas, N.S., double lung transplant survivor welcomes new pulmonary test equipment | SaltWireA New Minas man knows first-hand that when a person’s ability to breathe is compromised, little else matters.
Read more »