Buyers Return to Bitcoin! According to the analyst this level must be broken for the decline to end!

As Bitcoin ($BTC) continues its attempts at recovery in recent days, buyers are starting to re-enter the market.

CryptoQuant notes that, according to the data, net Bitcoin purchase volume has increased, indicating that buyers are entering the market.

In CryptoQuant’s theory, net buying volume is the power imbalance between active buyers and sellers in derivatives market (a sign that has been positive since the US-Iran conflict began).

This positive trend coincides with Bitcoin’s recent rise to $74,000 and indicates a resurgence in demand for the derivatives market.

According to Coinbureau CEO Nic Puckrin, citing the positive trend in net buying volume, “This means that buyers’ volume has exceeded sellers’ volume.” Market control Buyers are now monopolizing the market for . Paraphrast.

But at the macro level, “the price of $BTC is essentially identical between the actual market price ($54,400) and its realized price ($78,000),’ said analysis platform Glassnode.

In their charts, Glassnode said that $BTC spent much of 2023 between these two levels, adding ‘Unless there are more macroeconomic downturns in this December market could be the basis for a recovery rally. Paraphrast.

However, analysts noted that recovery rallies have repeatedly been stalled near the true market price (currently around $78,000).

Moreover, Crypto analyst Titan (who uses a pseudonym) said that $BTC “upgrades above the $78,000-$80,000 range” could signal ‘the long-term trend is changing and reversed downtrend.”

*This is not investment advice.

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