Strong Bitcoin Demand and Accumulation Amid Wahala
Demand for Bitcoin still strong despite recent price wahala. This steady demand don make investors gather 160,000 BTC for the past 30 days, with pure accumulation addresses adding over 50,000 BTC. Off-exchange holdings for OTC desks don drop from 550,000 BTC for September 2021 to 145,000 BTC, showing say institutional players dey buy well well. For technical side, BTC dey trade between $111,900 support and $115,724 resistance, with key SMAs confirming uptrend and small selling pressure. These things support bullish outlook, as breakout above $115,724 fit push price go $122,000. Crypto traders suppose note these accumulation trends and technical signs as signals for future trade opportunities.
Bullish
Di sustained demand for Bitcoin plus big BTC accumulation metrics dey show say buying pressure strong. Big off-exchange withdrawals from OTC desks dey show say institution dem get confidence, e dey reduce di supply wey dey available. Technically, BTC position wey dey above key moving averages and inside defined support and resistance levels dey show say risk to go down low. Short term, if e break above $115,724 resistance, e fit make rally push reach $122,000. Long term, continuous accumulation by investors plus good on-chain demand metrics go support price to still increase. All these tins together dey create bullish environment for BTC trading.