Coinbry

  • Market Cap: $2,078,806,801,998.37
  • 24h Vol: $100,968,125,699.06
  • BTC Dominance: 48.93%
3 Key Reasons Why Investors Are Indifferent to Bitcoin Price

3 Key Reasons Why Investors Are Indifferent to Bitcoin Price

– Bitcoin’s price may be down, but three key metrics suggest bullish signals for smart money traders.

– Bitcoin’s hashrate, which measures the computing power dedicated to mining BTC, recently hit a record high, indicating network strength and miner interest.

– The relationship between hashrate and price suggests that as prices rise, miners mine more, leading to potential price increases.

– Nation-states like Oman are also showing interest in Bitcoin mining, further supporting the bullish case.

– The number of Bitcoin addresses holding 0.1 BTC or more has reached an all-time high of 12 million, demonstrating trust in the asset class.

– The amount of Bitcoin held on exchanges has been trending lower, indicating individuals are taking self-custody of their coins and potentially disinterested in selling.

– These metrics suggest that investors’ thesis for buying Bitcoin has grown stronger, despite the current bearish price action.

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