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Bitcoin’s [BTC] network is buzzing again.
An uptick in recent data has made it tempting for traders to lock in gains. But what you may not be seeing, is that LTHs are doubling down, with accumulation hitting record highs thanks to big buyers.
Looks like BTC’s long-term value remains strong, even as short-term traders eye profits.
Bitcoin’s Active Addresses climbed 8% to 793,000 last week, while transaction fees rose 10% – proof of stronger network demand.
Source: Glassnode
At press time, 94% of Bitcoin’s supply was in profit, placing the market in a zone where sentiment can shift quickly if holders rush to cash out.
However, the uptick in on-chain data suggests steady underlying momentum. Any correction may be short-lived, provided buying interest remains strong.
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Risk Warning:
Investment involves risks. Please exercise caution when entering the market. This content does not constitute investment or financial advice.
