Ultra Bullish Divergence Found in Important Bitcoin (BTC) Index


(c) Reuters. Ultra Bullish Divergence Found In Important Bitcoin (BTC). Index

U.Today. Crypto analyst Ali Martinez has recently brought attention to an interesting trend in (BTC). A surprising increase in BTC addresses has occurred despite Bitcoin’s price remaining stable at around $26,000. This development is being viewed as a significant bullish divergence from an on-chain perspective.

One of the indicators highlighting this bullish trend is the record number of addresses now holding 0.1 or more Bitcoin, which has reached an all-time high of 4,487,486. The number of Bitcoin addresses that are not zero has also reached a historical high of 49,138.848. These statistics suggest growing interest and participation among investors in the market, even in the midst of price perturbation.

In the midst of these developments, some market analysts are discussing the possibility of a . They note, based on historical data that in previous bear markets the market declined after the crossover of the 200 and 50 moving averages. It is important to take into account this factor along with other market factors, since cryptocurrencies are affected by many different factors. Federal Reserve will hold a crucial meeting on September 20. The prevailing sentiment in the market strongly leans toward an expected “pause” in their decision, with a staggering 97% of market participants anticipating this outcome.

Meanwhile, has made headlines by seeking authorization to sell a substantial $3.4 billion worth of cryptocurrency assets, at a rate of $200 million per week. Concurrently, regulatory concerns persist, with the SEC accusing of violating securities laws, raising concerns about the safety of U.S. citizens’ assets on the platform.

This article was originally published on U.Today