Good News For Bitcoin Holders; El Salvador Passes This Law

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Bitcoin's illiquid supply has reached a record 15 million coins. These are the VTCs that are now off the exchanges. Most of them are in cold wallets and are not traded (SFC)

Against the background of the growth of bitcoin to $ 21,000, there is an accumulation of coins by all types of large wallets (Santiment)

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There are many similarities between the formation of the macrodynes in VTS in 2022 and 2018. In this regard, many are waiting for X's right away, some are longing with a big leverage. But the big difference is that 4 years ago there was monetary policy easing around the world, and now there is tightening. At the very least, it could hinder rapid growth," warns Bloomberg Intelligence

Breaking: Coinbase Officially Halts Operations In Japan

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The service Glassnode found a strong overflow of stables in the VTS. Most often this happened somewhere near the tops, although it did not prevent the price from rising for a while longer.

Large Bitcoin wallet volume trades (Whalemap)
The accumulation was really large-scale and the fuel for growth created is enormous.

Binance’s Fiat Partner Signature Bank Puts A Minimum Transaction Limit

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So far, bitcoin movement is not much different from previous correction cycles (Arcane)

There is a significant overflow of funds to altcoins with low capitalization (Santiment)

Revealed: FTX Owes Money To These Industry Giants

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Polygon surpassed Ethereum #ETH in daily active users🔥

The bulk of the liquidation of longs is now in the $16,000-22,000 range.

A large number of short liquidations are in the 26000-29000 range (Kingfisher)

These levels always act as magnets.

The monthly bitcoin chart shows a fairly bullish picture. The long fall stopped at the strong mirror level of ~$18,000. And after the horizontal consolidation a rebound begins.

Strong resistance is now only around $30,000. Therefore, the chances of continued growth are still high.

Bitcoin network on February 3 recorded a transaction of 313 million dollars, a record for 4 weeks (Santiment)

An interesting observation: previously, after such record deals there was often a change in trends.

There are strikingly similar bearish cycles in the GTS in 2017-2018 and now.

Then, in a similar situation, we got a rise of almost three times.

The current behavior of bitcoin continues to fit perfectly with the dynamics of previous cycles of correction and growth (Coinshares)

Against the background of bitcoin growth to 25000$ the very reliable Puell multiplier also gives a bullish signal. After exiting the oversold zone, it rose to a 14-month high and rose above the "1" mark.

Historically, this has given a signal for the start of the bull run.

Most indicators on the higher timeframes are signaling an impending rise in bitcoin.
Visually all cycles of growth and decline have been similar, the current bear market is no exception.

Technically right now we are breaking through long-term dynamic resistance. Historically, this event has triggered a powerful up-trend. With each new one, there is less and less chance of history repeating itself completely. So getting into longs on the whole cutlet is clearly not the right time. But it's also not a good idea to sit completely in stablenecoin waiting for a new decline. Right now a healthy caution is the ideal solution.

The mass withdrawal of bitcoins and ethers from centralized exchanges continues. Balances on exchanges have fallen to 5-year lows. Falling supply of BTC and ETH on trading floors reduces the likelihood of strong sales in the future (Santiment)