Ultra Bullish Divergence Found in Important Bitcoin (BTC) Index
Amid Bitcoin's price stability around $26,000, intriguing surge in new BTC addresses may catch attention of crypto enthusiasts...
- Despite Bitcoin's price holding steady around $26,000, there has been a surge in new BTC addresses, indicating a bullish divergence from an on-chain perspective.
- The number of addresses holding 0.1 or more Bitcoin has reached an all-time high of 4,487,486, and the number of non-zero Bitcoin addresses has hit a historic peak of 49,138,848.
- Market analysts are discussing the possibility of a "death cross" based on the crossover of the 50 and 200 moving averages, but other market dynamics should also be considered.
- The Federal Reserve is expected to announce a "pause" in their decision at a pivotal meeting on Sept. 20.
- FTX seeks authorization to sell $3.4 billion worth of cryptocurrency assets, while regulatory concerns surround Binance.US.
The article highlights both positive and negative developments in the cryptocurrency market, with the surge in BTC addresses indicating a bullish trend, but the possibility of a "death cross" and regulatory concerns raising caution.