The CryptoQuant analytical platform has recorded one of the largest recent inflows of bitcoins to so-called accumulative addresses. More than thirty-eight thousand coins were transferred to wallets that are traditionally associated with long-term investors and over-the-counter settlements. At first glance, such activity looks like an exceptionally positive signal for the entire digital asset market. However, the company's experts emphasized that large-scale accumulation by itself does not guarantee the start of a new stable bullish trend. The decisive factor remains the realized price for these addresses, which is currently around the seventy thousand dollar mark. It is the behavior of large holders near this level that will show the real intentions of the institutional players.

The average purchase price of bitcoins on accumulative wallets significantly exceeds current market quotations. At the time of the preparation of the analytical material, the first cryptocurrency was trading in the region of sixty-four thousand dollars. In this regard, the researchers identified two possible scenarios for the further development of events. In an optimistic scenario, large holders continue to actively accumulate assets in anticipation of a new stage of growth. An alternative scenario involves a strategic reduction in the average entry price to break even later. The return of quotations to the area of seventy thousand dollars can provoke a massive fixation of positions. Whether the wallets will continue accumulating or start distributing the asset will give a clear signal about the next market trend.

The new CryptoQuant analysis appeared against the background of mixed assessments of the general state of the cryptocurrency market. Representatives of Wintermute had previously announced signs of the end of a protracted bearish phase in the industry. Grayscale experts noted that the future policy of the US Federal Reserve will remain the decisive factor for bitcoin. CryptoQuant analysts also reported a noticeable reduction in reserves of the first cryptocurrency on centralized exchanges. The Santiment platform has recorded a record low ratio of positive comments about bitcoin in the entire history of observations. Short-term holders transferred more than thirty-two thousand coins at a loss to trading platforms. This was one of the largest waves of capitulation in the last thirty days and confirms the high nervousness of the market.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.