Bitcoin Demand Still Strong Even with Market Wahala
Data wey CryptoQuant don show sey demand for Bitcoin still strong even if price dey waka up and down. For the past 30 days, investors don gather about 160,000 BTC, dem dey absorb new issuance and put pressure to buy. Especially, the "hodler" wallets wey no dey sell, only dey gather, don add 50,000 BTC, this one show say long-term holders really believe inside Bitcoin. Meanwhile, the BTC wey OTC desks dey hold don drop from around 550,000 for September 2021 to 145,000 now, this one mean say institutions don buy plenty and supply no too dey. This on-chain analysis dey show sey liquidity strong, supply scarce, and demand for Bitcoin strong, fit help price steady and maybe go up. Traders suppose see market dips as chance to gather more because buying pressure dey healthy and scarcity effect dey grow. To sabi on-chain metrics like accumulation rate and changes for OTC balance na very important to handle Bitcoin price wahala and to plan strong long-term trade moves.
Bullish
Strong demand for Bitcoin dey signal say market go bullish. The big-big accumulation of 160,000 BTC and 50,000 BTC by wallets wey dey only dey accumulate show say dem get strong belief, e go reduce the chance say people go sell. The sharp drop of BTC for OTC desks from 550,000 to 145,000 show say institutional investors dey absorb supply for long-term holding. This scarcity fit cause price to go up as supply tight. Historically, similar on-chain accumulation before dem bullish cycles happen, like after halving rallies for 2016 and 2020. For short term, market dips fit make people dey buy the dip, e go push price higher. For long term, steady demand and less OTC reserves go support steady upward trend. Traders suppose dey watch on-chain data to know when to enter, but overall, the base dynamics dey point to bullish market.