Immediate markets pay Bitcoin to 106 thousand dollars, where Coinbase sees $ 45 million of daily purchase: Glassnode

Bitcoin’s increase to $ 106,000 earlier this week was mainly driven by immediate demand in the market, with a net net purchase of $ 45 million per day, according to the last Glassnode report.

The assembly, which began after the King Chefer currency fell to a little less than 75,000 dollars in early April, was characterized by the strong accumulation stages, the funds circulating on the stock exchange (ETF), and the pressure cooling from the side of the sale, indicating the continuous bullish momentum despite the last profit by long -term holders.

The demand for derivatives exceeds

Unlike the previous gatherings fueled by the summons speculation, this last upward trend was distinguished by the accumulation of the organic sports market.

According to glass glass a report,, BTC has changed its hands significantly in the range of $ 93,000 to $ 95,000, which is now working as a major support level as it coincides with the basis of the cost for traders who have entered the market during the past 155 days.

The price respects this range amid side accumulation, which enhances the visible “staircase” structure on the basis of cost.

Meanwhile, the derivative markets fall behind, as the permanent future interest decreased by 10 %, from 370,000 BTC to 336,000 BTC, and may indicate large short pressure where the bears were stopped.

However, the financing rates remain neutral, which reflects the lack of an excessive lever in the long side, which is something that Glassnode experts believe is a sign that the gathering can have more space for operation.

Spot Bitcoin ETF also played an important role, as it peaked at $ 389 million on April 25 before it reached about 58 million dollars per day. Coinbase, a preferred exchange of American institutional investors, has a fixed purchase. At the same time, the pressure pressure on its global counterpart, Binance, decreased from $ 71 million per day in March to only 9 million dollars, indicating that investors were actively buying.

Long term holders, but the demand is still strong

Despite the assembly, Bitcoin began in the long run in profit, indicated by the analyst Cryptoquant Avocado Onchain in a report on May 15.

According to them, the destroyed binary currency scale (CDD), which follows the sleeper coins that are transported, rose to 0.6. While it shows that these bearers cancel the sleeping BTC download for profit, the scale did not reach the 0.8 area that was seen during its highest levels on the emerging market.

Glassnode data confirms this trend, indicating that the profits around it (STH) in the short term (STH) leak into normative deviations approximately +3 above average 90 days. However, the Analysis Company warned that achieving profits has not yet reached exhaustion levels, because in previous gatherings, there were needed deviations higher than +5 to exhaust demand and local summits features.