Crypto Markets Experience Growth Without Euphoria

Crypto markets appear to be shifting into growth without euphoria as prices edge higher. According to CryptoQuant, inflows of Bitcoin to exchanges from long-term holders have reached their lowest level since 2015. This suggests that selling pressure is easing, and the number of Bitcoins held by long-term holders has reached a new all-time high of 15.8 million BTC.

Relai expects Bitcoin's bearish trend to end once the phase of major investment in artificial intelligence concludes. Capital may begin to flow back into the leading cryptocurrency as early as next year, according to their prediction.

The company Strategy has been purchasing more Bitcoin, buying an additional 1,587 BTC last week for $100 million at an average price of $63K per coin. This brings their total holdings to 846,842 BTC, purchased for $64.1 billion at an average price of $75.6K per Bitcoin.

BitMine has also increased its Ethereum holdings to 5.62 million ETH, having purchased approximately 0.08 million ETH over the past week. BitMine's reserves have reached 4.66%, with plans to acquire 5% of the Ethereum supply.