Bitcoin Cycle Indicator Flashes Buy Signal After Eight-Month Downturn
Bitcoin's cycle indicator has given a buy signal for the first time in eight months, suggesting a potential rebound. The indicator is based on the behavior of large wallets, which have been buying Bitcoin while smaller investors sold approximately 47,000 BTC at $77,327 each.
The US spot Bitcoin ETFs had their strongest weekly inflow in the past 10 months, adding to the positive momentum. However, market observers are still closely watching the short-term support level of $69,000.