Bitcoin’s active supply has decreased significantly in the last 30 days, suggesting a decline in transaction activity. Meanwhile, the number of profitable wallets is rising, indicating that holders are reluctant to sell, potentially stabilizing Bitcoin’s price in a volatile market.
Demand indicators show exhaustion with low spot exchange netflow. Although some large purchases from whales occurred, the overall market sentiment remains cautious. Without increased demand for Bitcoin, any price attempts above $70,000 may be short-lived.
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