Bitcoin Accumulation Now Longer Than 2021 Pre-Bull Run -Breaking
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© Reuters Bitcoin Accumulation Now Longer Than 2021 Pre-Bull Run- Bitcoin’s price has been trading below the 200-day SMA for more than 79 days.
- Also, the 1-day chart shows a Rising Wedge structure which can be considered a bearish sign.
- Glassnode data suggests that there is a decrease in the amount of bitcoins available for exchanges.
Bitcoin’s price has been trading below the 200-day Simple Moving Average (SMA) for the past 79 days and counting. This is even longer than the 2021 accumulation period, which set the stage for the Q4 rally leading to Bitcoin’s all-time high (ATH) price of $69,000.
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