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Bitcoin's 4th halving done: A new rally or already priced in?
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Bitcoin price rose back above $70,000 for the first time in a week

$Bitcoin(BTC.CC)$ price rose back above $70,000 for the first time in a week, recovering from the streak of negative flows into spot BTC exchange-traded funds (ETF) last week.
Data from Cointelegraph Markets Pro and TradingView shows the BTC price climbed from an opening of $67,212 to an intra-day high of $70,306 on March 25. At the time of publication, BTC was trading at $70,268, up 7.5% over the last 24 hours.
Bitcoin price rose back above $70,000 for the first time in a week
Bitcon’s recovery follows a period of price downturn that has seen the cryptocurrency fall as low as $60,771, corroborated by negative ETF inflows. Could the surge in multiple BTC price metrics be a sign of things to come?
Weekly outflows into spot Bitcoin ETFs totaled $904 million
Last week “marked the end of a 7-week cycle” of inflows into crypto investment products as investors withdrew more than $942 million, according to a March 25 report by CoinShares.
The report noted that last week marked the “first outflow following a record 7-week run of inflows totaling US$12.3bn.”
Bitcoin price rose back above $70,000 for the first time in a week
The crypto asset management firm attributed the large outflows to the recent drawdown in crypto prices, which “wiped US$10bn off total assets under management (AuM) but remain above prior cycle highs at US$88bn.”
The poor sentiment was mostly focused on Bitcoin, which accounted for “96% of the flows” totaling $904 million, ”while short-bitcoin also saw minor outflows totaling US$3.7m.”
Bitcoin price rose back above $70,000 for the first time in a week
Spike in Bitcoin Age Consumed metric
Bitcoin has recently experienced a notable surge in its Age Consumed metric over the past few days. According to data from market intelligence firm Santiment, the number of dormant BTC addresses moving BTC surged to 162.89 million on March 23, the highest in over two years.
Bitcoin price rose back above $70,000 for the first time in a week
Age Consumed is a metric that tracks the movement of previously idle BTC coins. The metric shows the number of BTC changing addresses daily multiplied by the number of days since they moved. Spikes signal a potential increase in price volatility.
This spike in Age Consumed suggests that previously dormant addresses holding Bitcoin are now re-entering circulation, indicating a revival in network activity. This was evidenced by a surge in transaction volume, as shown in the in chart below.
Bitcoin price rose back above $70,000 for the first time in a week
As Bitcoin’s Age Consumed metric grows, transaction volume increases, a precursor to potential price jumps in the BTC price.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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  • Mynor Garcia : Bitcoiners will jump on the chance to buy Bitcoin at a discount like a pack of rabid wild dogs attacking a Christmas turkey.
    Squeeze away,
    I'll kindly take that BTC off your hands.
    Muchas gracias, amigo!
    P.S. it's not coming. One way street now until the halving.