Bitcoin had delivered a cool end to the Wall Street trading week, having also shaken off macroeconomic volatility catalysts from the US
Bitcoin stuck to $26,500 into the September 24 weekly close as exchange trader accumulation continued.
According to data from Cointelegraph Markets Pro and TradingView, bitcoin price stability is holding firm over the weekend.
Bitcoin had delivered a cool end to the Wall Street trading week, having also shaken off macroeconomic volatility catalysts from the US.
With few signals appearing since, popular trader and analyst Credible Crypto eyed a slow build-up to a trend shift on the Binance order book.
Looks like we are not ready to make a move yet, Credible Crypto summarized to X (formerly Twitter) subscribers on the day.
In the meantime, two more blocks of bids just filled. The accumulation continues. Maybe we get a slow weekend and start seeing some movement come Monday. Let us see what tomorrow brings, he added.
The day earlier, fellow trader Skew had expected a “liquidity hunt” into the weekly close; this has yet to appear.
Further subtle order book changes were noted by Keith Alan, co-founder of monitoring resource Material Indicators, who spied on bid liquidity moving up toward spot price.
Picking up on active Bitcoin market participants, popular trader and analyst CryptoCon noted a major washout of speculators.
Short-term holders (STHs), the cohort of Bitcoin investors who have held their coins for 155 days or less, now control less of the available bitcoin supply than at any point in more than a decade.
Underlining data from on-chain analytics firm Glassnode, CryptoCon described STH holdings as a “fine powder.”
In other words, there are more strong Bitcoin holders than earlier!, it added.
