Crypto analyst Ali Martinez has noticed a surge in new Bitcoin (BTC) addresses, suggesting a potential return of retail investors. Despite recent market volatility, the number of new addresses has broken a downtrend line, reaching its highest level since April.
Miners Capitulating, Bullish Signal
Martinez also observed that Bitcoin miners are selling their positions, which is often seen as a precursor to a bull market.
Bybit Entity Buying the Dip
An entity on the crypto exchange Bybit appears to be accumulating Bitcoin during its recent price dip. The Taker buy/sell ratio, which measures the ratio of long to short positions in the derivatives market, is currently at 12.306, indicating strong buying pressure.
Bitcoin Price Update
At the time of writing, Bitcoin is trading at $63,331, up over 4% in the past 24 hours.
