Bitcoin price experienced a significant recovery. This recovery was supported by the continued bullish trend brought by the bulls and other factors. Bitcoin reached its highest price in the year this week, gaining over $31,000.

According to data from Glassnode, Bitcoin's surge from $25,000 to over $30,000 has allowed more than 1.8 million short-term investors to profit. It was determined that these short-term investors accounted for 96.9% of the profitable addresses in BTC.
Bitcoin's price recovery and retesting the key resistance point have created an environment where traders can trade more comfortably. Less fear of the asset usually means more capital inflows. Also, while the on-chain data shows that the daily buying volume has not yet adjusted to the price momentum, this indicates that a significant bounce can be expected in the near future.
As for the positive fundamentals underpinning Bitcoin's growth, there are developments such as large asset management companies like BlackRock resorting to Bitcoin ETF products and other money managers investing in Bitcoin mining. Also, long-term HODLers (those who hold Bitcoin for a long time) usually do not sell their Bitcoins, which means that the supply may decrease. All this positive news strengthens the medium and long-term bullish signal.
#Bykaranteli# #GateioBountyCreator# #ContentStar# #BountyCreator# #Gateio10周年# #NewYearCelebration# #GateioTurns10# #CryptoObserves# #contentcreator# #NewsMessenger#