Despite coming from a difficult week, Bitcoin (BTC) prices show strength and resist over $114,000.
Although multiple investors can scare this fall, the data is On-chain They have shown that Bitcoin demand remains strong, so it’s not time to worry.
In this regard, cryptographic analysts are analytics companies. On-chainthey suggest that “analyzing current demand is essential to assess whether the situation could be significantly worsened.”
The first indicator reflects it despite this fall Long term holders maintain their position and buy or maintain more BTC than they air.
To maintain this debate, analysts share a graph where apparent demand for BTC is observed over the past 30 days. This indicator compares two important components. New daily emissions of BTC generated by mining and fluctuations in the amount of Bitcoin that remains inactive for more than a year, that is not moving on the network.
If the accumulation of inactive BTC exceeds the newly issued amount, the excess reflects positive net demand. On the contrary, if the holders start selling more coins than they have been created, the obvious demand will be negative.
In the previous graph, the blue line shows the apparent accumulated demand over the past 30 days, expressed in Bitcoin. On the other hand, the black line represents the price of BTC, while the green shaded area represents a period of positive demand, indicating purchase pressure, so that more BTC accumulates than is issued.
On the contrary, the red area shows a clear moment of negative demand, reflecting greater sales pressure as supply released into the market exceeds new emissions.
The net accumulation is currently around 160,000 BTC, suggesting that demand remains positive. This is a sign of the upward price of currency created by Nakamoto At.
Meanwhile, analysts emphasize that metrics called “requirements for accumulated addresses” are tracked. Addresses acquired by BTC without selling anythingreflecting a 50,000 BTC increase in their holdings over the past 30 days. “This indicates a strong and sustained purchasing behavior,” they explain.
As can be seen in the following graph, accumulation increased continuously in the last month (purple region), reaching levels above 240,000 BTC.
Finally, you need to be careful about that There are increasingly fewer BTC available in the OTC market (“over the counter” or outside the counter (in Spanish). As explained by Cryptonotics, this route allows institutional investors to negotiate carefully and in large quantities without affecting the prices of the most well-known exchanges.
“The BTC maintained by the OTC desk has significantly reduced. In September 2021, approximately 550,000 BTC was available compared to today’s 145,000 BTC,” analyst details.
For experts, the most important thing is that “general trends are driven by long-term investors’ convictions, and short-term can cause temporary corrective pressures.”
It was said more simply, for now the panorama remains positive; There is no clear indication that BTC can suffer strong price corrections.