Bitcoin reached a new all-time high but faced a slight pullback, with major Binance withdrawals suggesting long-term sentiment.
bullish momentum has continued to push the asset into uncharted territory. The leading cryptocurrency achieved its latest all-time high of $93,477 on 13th November, capping off a run of new peaks.
According to Darkfost, investors have been withdrawing significant amounts of Bitcoin from Binance, one of the world’s largest cryptocurrency exchanges. Specifically, over 7,500 BTC were withdrawn in what marks the second-largest such movement this year.According to the analyst, this activity could signal a shift in investor sentiment, suggesting confidence in the asset’s long-term value and potentially indicating a transition toward more secure, long-term holdings rather than active trading.
This metric can indicate whether Bitcoin is overvalued or undervalued relative to its historical price trends.
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