Bitcoin (BTC) Price Analysis: Metrics Point to New Highs ๐Ÿ“ˆ๐Ÿš€

Irma - Mar 27 - - Dev Community

๐Ÿ“ˆ Bitcoin (BTC) is showing numerous bullish indicators. Wallets holding at least 1,000 BTC have grown consistently over the past five days, while BTC supply on Coinbase hits a low not seen since 2018. This scarcity on exchanges, along with short-term EMA lines surpassing long-term lines, suggests a potential bull run.

๐Ÿ‹ Whales are Accumulating BTC Again: Between January 25 and March 25, the number of addresses holding at least 1,000 BTC rose from 1,491 to 1,617. This assertive accumulation by major addresses hints at a looming bull run.

๐Ÿ”ฎ BTC Price Prediction: The 4-hour chart shows a bullish signal with short-term EMA crossing above long-term EMA, indicating increased buying pressure. This could drive BTC towards a new all-time high (ATH). However, there's a risk of retraction if buying pressure eases, potentially revisiting the $60,000 mark.

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