The data on the series shows that bitcoin investors who have no date of sale have returned to intense accumulation, a sign that can be bullish for the BTC price.
Bitcoin accumulation headlines have shown a recent high demand
In new mail In X, Cryptoquant has spoken of a series of analyzes on how the demand for permanent Bitcoin holders appears. Permanent holders, also known as accumulation addresses, refer to the BTC governor that has not been treated an external flow.
That is, permanent holders are investors who have a date of purchase only and there is no sale. There are also some other restrictions that can fall into this category, with a key that mines or exchange workers should not be linked.
The reason behind this is that these two entities play the role of selling pressure in the market. As such, the associated holdings can be seen as “sales supplies” of cryptocurrencies, which are the opposite of what the accumulation addresses represent.
Now, here is the graph that the analysis company shares, which shows the trend in the coming demand from these investors over the past two years:
The value of the metric appears to have been following a steep upwards trajectory in recent days | Source: CryptoQuant on X
As shown in the graph above, Bitcoin accumulation headlines were going through a purchase boom over the past two months of 2024, but in January this year, they saw that their request was decreased sharply and decreased to less than a simple moving average for 30 days ( SMA).
It is clear that the accumulation of this regiment is what supported the bull run, and the departure was the possible reason behind the slowdown in the price of the encrypted currency that followed.
In the past few days, though, the demand from the group has again shown the acceleration, which means that the supply is constantly closing in the hands of these contestants.
The index has now ended over SMA for 30 days in a sharp way, similar to the outbreak of 2024. “historically, these signals indicate strong confidence and often precede the gatherings.”
In fact, the permanent missionaries will not be “always”, as it sells at least one day of this group to harvest their patience profits. However, it is likely that investors who do not have a date for at least a period of sale for at least a period of time, which is why the purchase of accumulation addresses is upward.
The regiment can now be the monitoring of the near future, as their demand trends can be very important to Bitcoin. Of course, the continuation of the bullish path will be a positive sign, while the slowdown may lead to a fixed action in the first place.
BTC price
Bitcoin has not been able to determine a direction in the past few days as its price is still trading on a $ 98,700 sign.
Looks like the price of the coin has been moving sideways recently | Source: BTCUSDT on TradingView
Distinctive image from Dall -e, Cryptoquant.com, Chart from TradingView.com