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- 🎊 ETH Deposit & Trading Carnival Kicks Off!
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- 📢 ETH Heading for $4800? Have Your Say! Show Off on Gate Square & Win 0.1 ETH!
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- 🧠 #GateGiveaway# - Crypto Math Challenge！
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1️⃣ Follow Gate_Square
2️⃣ Like this post
3️⃣ Drop your answer in the comments
📅 Ends at 4:00 AM July 22 (UTC)
- 🎉 #Gate Alpha 3rd Points Carnival & ES Launchpool# Joint Promotion Task is Now Live!
Total Prize Pool: 1,250 $ES
This campaign aims to promote the Eclipse ($ES) Launchpool and Alpha Phase 11: $ES Special Event.
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Alpha Phase 11 Announcement: https://www.gate.com/zh/announcements/article/46137
🧩 [Task Details]
Create content around the Launchpool and Alpha Phase 11 campaign and include a screenshot of your participation.
📸 [How to Participate]
1️⃣ Post with the hashtag #Gate Alpha 3rd - 🚨 Gate Alpha Ambassador Recruitment is Now Open!
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Selling Pressure Decreases in Bitcoin: Long-Term Investors Start Accumulating Again! - Coin Bulletin
According to the latest data released by Glassnode, Bitcoin's Binary Coin Days Destroyed (CCD) indicator indicates a decrease in the activities of long-term investors (LTH) in the market.
This situation indicates that the selling pressure has significantly eased and the market needs new catalysts to trigger new supply waves.
After a sharp sell-off at the $100,000 level, long-term investors are now back in accumulation mode. There is an upward trend in LTH supply, and this behavior presents a similar picture to the recovery process following last year's peak in March. This accumulation trend demonstrates that long-term investors maintain confidence in Bitcoin's future potential.
The overall trading volume of Bitcoin in exchanges has also significantly decreased. The inflows, which were at $6.1 billion in the previous period, have now decreased to $2.8 billion (-54%). Even more noteworthy is the decrease in long-term investors' inflows to exchanges, from $527 million to $92 million (-83%). This indicates a decrease in speculative activities and a slight easing of market volatility.
Glassnode indicates that these declining activities and speculative transactions could allow the market to find a more balanced ground. The return of long-term investors to accumulation and the decrease in selling pressure may signal a potential future recovery in the price of Bitcoin. However, a new catalyst may be needed in the market for this recovery to take place.