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Bitcoin accumulation addresses surge as market optimism returns

Bitcoin accumulation addresses surge as market optimism returns
Resurgence in Bitcoin accumulation addresses marks bullish outlook.

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The number of Bitcoin accumulation addresses has seen a significant surge, according to recent data from Glassnode. This increase in accumulation addresses aligns with a broader market optimism and Bitcoin's price stabilization around $60,000. Long-term holders have added nearly 70,000 BTC since the cycle's bottom, reversing a previous divestment trend. The Bitcoin halving also spurred substantial accumulation, with over 115,000 BTC accumulated in April alone. These patterns suggest a bullish outlook among long-term holders and other key market participants, highlighting a collective confidence in Bitcoin's future prospects. The interplay between these accumulation trends and market events like the halving will be crucial in shaping Bitcoin's trajectory in the coming months.

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