Onchain data points to a major Bitcoin price rally in the making, while short-term price weakness highlights the absence of “new” buyers.
Key takeaways:
Stablecoin inflow patterns mirror levels seen after the LUNA and FTX collapse. Pointing to fresh accumulation and the potential for a breakout rally.
Bitcoin holds above $100,000, but new user activity is still low, indicating a “HODL” phase where holders are waiting for fresh demand to drive prices higher.
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