Bitcoin price can only go up if $30K accumulation 'reset' continues — research
Investors who sold BTC above $30,000 on the way to all-time highs are now buying back in, Ecoinometrics reveals. Bitcoin (BTC) is seeing a “reset” in investor behavior at $30,000 and the trend need only continue to spark a price rise.According to on-chain monitoring resource Ecoinometrics on July 13, the only way is “up” for BTC/USD if hodlers continue accumulating coins."Intriguing" data points to fresh demandAnalyzing who bought coins since the start of the latest bull run in October 2020, Ecoinometrics showed that major change is afoot compared to last year.At the start, it was smaller....
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After a highly anticipated partial victory for Ripple Labs and XRP investors, the fifth-largest cryptocurrency has succumbed to the overall market downward trend, dampening the excitement following its July 13 triumph against the US Securities and Exchange Commission. Over the past 30 days, XRP has retraced by more than 26%. Despite experiencing significant price fluctuations since its 16% drop on August 16, the token has recovered 4% of those losses within the past seven days. As the market approaches the monthly close and witnesses liquidity re-entering, there is a growing possibility....
An excerpt from Bitcoin Magazine's Deep Dive: Michael Saylor's MicroStrategy continues to lead the corporate world in BTC accumulation.