Crypto News

Bitcoin Hits New All-Time High, Addresses Enjoy Profits

Bitcoin surged past the $72,000 mark today, achieving a new all-time high (ATH) and bringing joy to investors as 100% of Bitcoin addresses reportedly found themselves in profitable territory.

Ahead of this impressive rally, a newly established wallet, 3Khjn, made significant withdrawals from Binance, totaling 598.8 BTC, valued at $41.5 million, at an average price of $69,333.

Over the past 22 hours, this wallet has withdrawn a total of 4,192 BTC from Binance, with an average cost of $68,937, amounting to $289 million, and now boasting a profit of $1.66 million.

The cryptocurrency market witnessed record-breaking weekly inflows of $2.7 billion into digital asset investment products, bringing the total inflow for the year to an impressive $10.3 billion.

Weekly trading turnover soared to $43 billion, surpassing the previous record of $30 billion set the week before.

Notably, the weekly and monthly inflows into the BlackRock Bitcoin ETF have outpaced the outflows from Grayscale, highlighting a shifting trend in investor sentiment.

3.5% Bitcoin Dip That’s Close, Areas To Monitor

However, amidst the euphoria, analyst Ali Martinez highlighted a cautionary signal for Bitcoin traders. The TD Sequential indicator, renowned for its predictive capabilities, flashed a sell signal for Bitcoin on the 12-hour chart.

Historically, whenever this indicator suggested selling since early February, the price of Bitcoin experienced declines ranging from 1.6% to 3.5%. 

This trend warrants attention from short-term traders as they navigate the volatile cryptocurrency market.

As Bitcoin continues to capture headlines with its remarkable price movements, investors and traders alike remain vigilant, weighing the excitement of new all-time highs against the potential signals of market correction.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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