Key Insights:
The sell pressure that has been suppressing Bitcoin price appears to be loosening its grip on the cryptocurrency.
Institutional inflows have been testing the waters, and whales appear to be doing the same thing.
Analyst explores whether Bitcoin could be on the verge of a breakout.
If you have been keeping track of Bitcoin demand over the last few weeks or months, then you know this week has been exciting. Not just because Bitcoin maintained an overall uptrend, but because its demand dynamics appeared to be shifting.
Major shifts in Bitcoin demand characteristics often help to establish big moves in prices. Well, bears have dominated the cryptocurrency for months, suppressing any bullish attempts along the way.
That Bitcoin demand suppression was particularly evident since mid-January. The reason this week has been exciting for BTC holders is that it closed in the green for 5 consecutive days.
Bitcoin Price | Source: TradingView
The last time BTC price pul
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