The post Significant Bitcoin Accumulation Trend and Exchange Outflows Signal Strong Q4 2024 Market Momentum appeared on BitcoinEthereumNews.com.

COINOTAG news, September 26, as Coindesk reports and Glassnode data confirms, the Bitcoin ecosystem has experienced a remarkable accumulation trend lately. In September alone, there has been a net accumulation of 88,000 BTC, which is approximately seven times the monthly issuance, marking the highest level since Q4 2023. Data reveals that retail investors are still making significant market entries. As of September 25, 2024, both “crabs” (1-10 BTC) and “shrimps” (less than 1 BTC) have collectively amassed 35,000 BTC in the last month. This pattern has been ongoing since May 2024, indicating a notable rise in small investor confidence. Additionally, the outflow of BTC from exchanges has intensified, with 40,000 BTC being withdrawn during the same period, representing 0.21% of total circulation. Presently, about 74% of BTC’s circulating supply is categorized as illiquid assets, which could set the stage for potential future price growth. Market analysts suggest that the combined effects of increased retail participation and BTC exchange outflows may signal sustained Bitcoin market momentum heading into Q4 2024. Source: https://en.coinotag.com/breakingnews/significant-bitcoin-accumulation-trend-and-exchange-outflows-signal-strong-q4-2024-market-momentum/

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Filed under: News - @ September 26, 2024 3:24 am