Bitcoin on-chain transaction volume declines, prices may continue to rise
ChainCatcher news, CoinDesk reported that according to Glassnode data, the dollar value of the average transfer on the Bitcoin chain is still well below the peak in 2021. Analysts at Blockware Solutions said this was a sign that investors were continuing to hold onto the token in anticipation of price increases. “No one wants to sell Bitcoin.”
It is reported that spot trading volume has been concentrated in ETFs recently, which also explains the low on-chain trading volume. Still, other indicators suggest that investors who survived the 2022 bear market are continuing to hold on to their coin reserves, anticipating continued Bitcoin price gains.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
From yen rate hikes to mining farms shutting down, why is bitcoin still falling?
The recent decline in bitcoin prices is primarily driven by expectations of a rate hike by the Bank of Japan, uncertainty regarding the US Federal Reserve's rate cut trajectory, and systemic de-risking by market participants. Japan's potential rate hike may trigger the unwinding of global arbitrage trades, leading to a sell-off in risk assets. At the same time, increased uncertainty over US rate cuts has intensified market volatility. In addition, selling by long-term holders, miners, and market makers has further amplified the price drop. Summary generated by Mars AI This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.
The Economist: The Real Threat of Cryptocurrency to Traditional Banks
The crypto industry is replacing Wall Street's privileged status within the American right-wing camp.
Grayscale's Top 10 Crypto Predictions: Key Trends for 2026 You Can't Miss
The market is transitioning from an emotion-driven cycle of speculation to a phase of structural differentiation driven by regulatory channels, long-term capital, and fundamental-based pricing.
From Yen Interest Rate Hike to Mining Farm Shutdown, Why Is Bitcoin Still Falling
The market is down again, but this may not be a good buying opportunity this time.
Trending news
MoreCrypto prices
More
