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Accumulation of Bitcoin (BTC) We see a massive surge as it rises to levels last seen in 2015. This bullish indicator follows Bitcoin’s crash from the $20,000 support as the bears attempt to dominate the market.
Ki Young Ju, CEO of cryptoanalytics platform CryptoQuant, shared an update on Twitter on Monday, introducing a chart to confirm his analysis. is derived from According to chart data, BTC held for more than 6 months contributes to a whopping 74% of the realization cap of assets.
The last time the community witnessed this indicator was in 2015, a market bottom when BTC value dipped below $220. The 6-12 month BTC realized cap contribution rate spike had been recorded twice since 2015 before this recent rise.
Interestingly, each surge coincided with a market bottom. His increase to 77% in 2015 occurred at the bottom of the cycle. Moreover, at the bottom of 2019, his 6 to 12 months BTC realized cap contribution rose further to 70%.
Some market watchers say we’ve hit the bottom of this cycle, while others argue the market could fall further before a major bull run. The indicator is consistent with the cycle bottom claim, especially since BTC failed to retest its mid-June lows.
   
Additionally, investors want BTC not to move for more than six months, showing just how strong the will of most BTC holders is, regardless of inauspicious market weather. He pointed out the difficulties associated with this practice given the realities of the market.
Additionally, Santiment recently highlighted another bullish signal from currency indicators. For the first time since 2018, BTC supply on exchanges fell to 8.98%, so the data suggests investors are leaving BTC off exchanges.
Confidence will infuse into the space as the risk of selling decreases as the share of BTC supply on exchanges declines. Investors generally move their assets from exchanges to their personal wallets for the long term.
Amid These Promising Signs, BTC Quietly stage a comeback against bears. The asset has broken above the $19,000 support as it tries to overcome the $20,000 resistance level. BTC is trading at $20,110 at the time of writing and he is up 3.63% in the last 24 hours.
