Ultra Bullish Divergence Found in Important Bitcoin (BTC) Index


17 Sep 2023 2:20 PM

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.

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You May Ask

What is the significance of the surge in new BTC addresses despite Bitcoin's price holding steady?How many addresses now hold 0.1 or more Bitcoin, and what does this indicate?What is the "death cross" and why are market analysts discussing its potential impact?What is expected to happen at the Federal Reserve meeting on Sept. 20?What are the regulatory concerns surrounding FTX and Binance.US?

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