BTC Accumulation Inflows Reach All-Time-High Despite Multiple Overheating Signals

• Cryptoquant’s Head of Research has noticed a surge in BTC demand among Bitcoin holders.
• There is an all-time-high inflow of Bitcoins into addresses that only receive but never spend.
• Julio Moreno noted some indicators are signaling an overheating phase following Bitcoin’s recent surge.

Julio Moreno, the Head of Research at Cryptoquant, has noticed a surge in demand among Bitcoin holders. He has found that data from Cryptoquant reveals an all-time-high inflow of Bitcoins into addresses that only receive but never spend, also known as accumulation addresses. 

Latest on #Bitcoin :
There's record high demand as seen in record-high inflows into accumulation addresses (addresses that only receive Bitcoin and never spend). pic.twitter.com/JsFCQJYbhp

— Julio Moreno (@jjcmoreno) March 2, 2024

In a recent post on X, Moreno shared how Bitcoin inflows into accumulation addresses increased significantly during the recent Bitcoin rally. However, he also noted that BTC rose so quickly that some indicators began signaling an overheating phase. One such indicator is the Bitcoin bull-bear market cycle indicator, which indicated an overheating phase when BTC reached $…

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