Market Analysis by MarketPulse (Zain Vawda) covering: Bitcoin US Dollar. Read MarketPulse (Zain Vawda)'s Market Analysis on Investing.com
However, downside risks persist, including profit-taking potential and concerns about Mt. Gox repayments impacting Bitcoin’s supply.
Data from CryptoQuant reveals that this has turned the 30-day net holdings indicator for ETFs positive for the first time in September, indicating a growing trend of accumulation rather than sales.Optimism continues to grow that the world’s largest cryptocurrency is ready for a bullish breakout as global Central Banks step up policy easing.
Arkham Intelligence asking the correct question, does this mean more repayments are on their way soon? The Mt Gox wallets hold 44,899 BTC worth $2.85 billion with any significant repayments likely to stoke concern of an oversupply as creditors look to sell their Bitcoin. Such a move could exert downward pressure on Bitcoin prices and are definitely worth monitoring.Bitcoin is currently trading around 3.5% up on the day and above the psychological 65k handle.
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