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Investor Activity Increases Amid Bitcoin Price Fluctuations

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by Giorgi Kostiuk

a year ago

After reaching $102,180, Bitcoin's price declined again, yet investors show increasing activity.

Binance Investors Indicate Accumulation

CryptoQuant analyst Burak Kesmeci noted a negative 14-day simple moving average for Binance, suggesting an accumulation trend. Additionally, Bitcoin outflows on Binance peaked at 5,407 BTC, showing price support. "Both indicators confirm investor behavior on Binance leaning toward accumulation," the analyst said.

Both metrics confirm that investor behavior on Binance is leaning toward accumulation. This trend strongly supports the case for upward movement in Bitcoin's price over the short term.Burak Kesmeci

$98,000 Support for New Highs

Despite a brief drop to $98,000, the technical market structure remains bullish. Analyst Michael Van de Poppe highlights $98,000 as a key support level for new growth. "I'd like to see $98,000 hold. If that holds, then I'm expecting a new ATH to come," the analyst stated.

I'd like to see $98,000 hold. If that holds, then I'm expecting a new ATH to come.Michael Van de Poppe

Analysts on the Current Bitcoin Market

Analysts note that market action, including the rise to $102,180 and subsequent decline, does not harm the long-term outlook. It is expected that the price will stabilize around $97,000 while maintaining a bullish trend.

The Bitcoin market is showing active dynamics, and despite recent fluctuations, investors continue to buy in anticipation of renewed growth.

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