Bitcoin price has regained upward traction, trading back above $105,000 after a temporary dip below $104,000 earlier today. This 1.2% increase over the past hour reflects renewed optimism in the market. Amid this price performance, Crypto Dan, a CryptoQuant analyst has shared his analysis of on-chain data and market behaviors that may shape Bitcoin’s trajectory in the weeks and months ahead. Related Reading: Bitcoin Outflows Signal Bullish Strength As Demand Remains High At $100K – What This Means Bitcoin Bullish Market But Caution According to Dan, the amount of Bitcoin held for less than six months continues to show notable growth with each market cycle. This trend suggests that as Bitcoin’s appeal widens, new capital inflows—particularly from the expected introduction of Bitcoin spot ETFs—could further drive demand. Dan anticipates that both institutional and retail investors will ramp up their involvement as these ETFs gain traction by the first half of 2025. Additionally, while current indicators remain bullish, Crypto Dan warns that surging interest in Bitcoin and altcoins, paired with an influx of new investors, could signal that the c ..
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