Bitcoin purchases shoot at maximum historical

Bitcoin’s demand (BTC) by investors who do not sell their holdings in this digital currency has triggered at levels never seen, according to data from the on-chain Cryptoquant explorer.

This is shown by the market metric called Demand from Accumulator Addresses Or, said in Spanish, demand for accumulatory addresses, which this week exceeded 260,000. Such a area, last time at the end of last year, was until then its historical maximum.

Today, this is above 336,000, thus marking a new record of addresses that accumulate Bitcoin without sellingsomething that reflects the current faith in the price.

“This metric tracks the addresses that BTC have only acquired without selling any, which gives us an idea of both the demand and the conviction of maintaining,” explained the analyst known as Darkfost.

For Vivek Sen market specialist, this accumulation comes from whales, those investors with more than 1,000 BTC, considered as “intelligent money” by soler buying in falls and selling in climbs. “They know what is coming,” he said from his opinion.

This panorama takes place in the middle of a significant week for the price of Bitcoin. This marked a new historical maximum of $ 124,000 (USD) on Thursday and, although it then retreated slightly, shows strength over $ 117,000.

Inflation data worse than those planned in the US and comments of the Secretary of the Treasury, Scott Besent, who generated disappointment and confusion about how the government will accumulate Bitcoin, led to the recoil. In addition, to this is added the sales pressure of those who take advantage of the increase to take profits.

Despite the fall, Bitcoin’s solvency at levels close to its historical maximum, driven by strong demand in the market, still maintains bullish expectations among specialists such as Sen.

He stressed that The world money supply is exploiting upso it predicts that “Bitcoin will continue soon.” This is according to the Global M2 liquidity, which is a measure of money that includes cash in circulation and deposits in the banks.

When M2 increases, it means that there is more money circulating in the economy, as a reflection of an expansive monetary policy that reduces the value of money. In this context, Bitcoin is seen, by its fixed supply, as an alternative of shelter against inflation and the loss of purchasing power of national currencies.

Unlike Fíat money, whose impression is subject to the government on duty, Bitcoin’s issuance is reduced by half every four years by halving, something that will happen until its entirety is mining: 21 million units. This makes it considered a scarce asset, which promotes its demand.