Bitcoin experienced a surge in demand as bulls target a decisive closing above $85,000 to reclaim the sought-after $90,000.
Long-term holders are re-entering the market, sparking optimism about BTC’s short-term recoveries.
Bitcoin Pepe (BPEP) reflects this optimism with its thriving presale.
It has already sold out the first eight stages, highlighting robust investor appetite for the new project.
BTC’s Accumulation Trend Score traverses YTD highs of 0.34 (Glassnode data).
#Bitcoin‘s Accumulation Trend Score is currently at 0.34 – the highest it’s been year-to-date. This suggests that, on aggregate, wallets are beginning to re-enter accumulation mode, with larger cohorts stepping in modestly despite recent price weakness: glassno.de/3RjZm0p
An increased accumulation score indicates massive accumulation, with long-term holders stealing the show.
LTH supply witnessed an addition of 297K BTC tokens within the last nine days.
Moreover, the long-term Binary Spent plunged to 0.3 in the previous week, confirming fewer LTHs engaged in dumping Bitcoin.
Increased accumulation and reduced selling pressure from LTHs signal potential short-term trend shifts to bullish.
BTC price outlook
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Increased accumulation from long-term holders paints a bullish picture for the top crypto by value.
LTHs often re-enter when the momentum shifts to the upside.
Moreover, this optimism can drive short-term price gains.
Maintaining the accumulation trend could trigger solid rebounds driven by organic demand.
Bitcoin bulls will likely target a candlestick closing above $85,000, which could support reclaiming $88,000 before a smooth ride to $90,000.
Renowned analyst Ali Martinez supports Bitcoin’s potential bounce-back.
He revealed that the TD Sequential indicator displayed a buy signal on BTC’s 7-day chart.
Ali believes the token could rally to $95,000 if bulls reclaim the $90,000 psychological mark.
Bitcoin Pepe presale accelerates
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Bitcoin Pepe grabbed the crypto community’s attention with its PEP-20 standards, enabling anyone to launch meme assets on the Bitcoin platform.
The new project aims to unlock Bitcoin’s dormant potential by introducing Solana-like features, including low fees, instant transactions, and speculative undertakings.
It has sold out eight stages and raised close to $7 million within a few weeks, indicating massive interest in the “world’s only Bitcoin meme ICO.”
Bitcoin Pepe’s pre-sale boasts 30 stages, with prices increasing by approximately 5% after each phase.
Those who joined early earned over 40% in cumulative gains as BPEP’s value increased from $0.0210 to $0.0310 at stage 9.
The coin’s value is projected to rise to $0.0864 by stage 30, offering significant profits to those who invest now.
Furthermore, the project looks set to deliver more gains upon its official debut.
You can visit here for more information about Bitcoin Pepe.
