According to the report, selling by long-term holders was a key reason for bitcoin's correction from all-time highs, but blockchain data suggests that these holders have started to re-accumulate BTC for the first time since December 2023.
The number of new bitcoin and ether accumulation addresses has been growing, indicating increased bullish sentiment despite price stability.
Crypto analytics firm Swissblock highlighted $70,000 and $73,000 as significant resistance levels for BTC, with pullbacks considered buying opportunities.
Key events like inflation data release and Federal Reserve meeting may bring volatility to the market in the upcoming week.
#bitcoin-price-action #market-analysis #crypto-market-sentiment #resistance-levels #market-volatility
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