In the past seven days, Bitcoin (BTC) has steadily climbed from $84,000 to over $94,000 as investors rekindle interest. Despite Bitcoin’s fluctuations to a low level, CryptoQuant, a leading on-chain platform, has shared an analysis supporting $90,000 as the newest support level for BTC.
Bitcoin's dormant capital reawakens to boost momentum
As per the analysis, "apparent demand" for Bitcoin, a metric to measure buying interest in BTC, has gone up. This measures the changes in one-year inactive supply, and the sharp rebound saw it rise from a negative demand of -200,000 BTC.
Related
Fri, 04/25/2025 - 13:53 Bitcoin (BTC) Was Never Coupled With Anything: Max Keiser
Yuri Molchan
This signals that dormant capital has reentered the market, and buying is picking up sharply. Previously, the market was experiencing heavy selling pressure and investor apathy.
Apparent Demand Indicator: Bitcoin Buying Interest Rebounds Sharply
“A strong bounce from extreme negative values (below -200K BTC) suggests that previously dormant capital is rotating back in.” – By @IT_Tech_PL pic.twitter.com/F7pqdAoqml
However, the crypto market has seen buyers and investors return their funds to Bitcoin, and the price is likely to sustain its upward momentum.
This is generally seen as a bullish signal and indicative of a rally if the trend holds. With the steady climb in the last seven days, Bitcoin has maintained higher lows for most of its fluctuations. Notably, it has stayed above $90,000 for over four consecutive days.
Can Bitcoin post another rally?
As reported by U.Today, Bitcoin is consolidating above the $94,000 level, which could signal its readiness for another major rally. The asset’s Relative Strength Index shows potential for more upward movement.
The current uptick in price comes amid the fresh acquisition of Bitcoin by the Michael Saylor-led Strategy. Reacting to Bitcoin reclaiming $95,000, Saylor expressed his excitement with the iconic words, "Bitcoin is faster."
Related
Thu, 04/24/2025 - 11:45 Bitcoin Price: From $500,000 to $1 Million in 2025: Influencer Adam Back
Yuri Molchan
Saylor is likely referencing BTC against top assets in the traditional stock exchange.
As of this writing, the price of Bitcoin has changed hands at $94,367.04, a 0.76% increase in the last 24 hours. Investors remain active, as trading volume has risen by 14.76% to $35.46 billion.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
