Bitcoin reached a peak of 124,474 USD but has since trended down to around 111,086 USD. This decline coincides with the rising Trade-Weighted U.S. Dollar Index, which historically correlates with increased liquidity for Bitcoin, hinting at possible positive market movements ahead.
Despite a significant sell-off of 243 million USD, spot investors have started accumulating BTC again, purchasing 47 million USD worth. Data indicates long-term investors remain steady, with decreased Bitcoin Exchange Reserves reinforcing a confident outlook in the market.
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