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A Surprising On-Chain Signal Is Flashing for Bitcoin

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The Bitcoin price has been under pressure in recent weeks, with price drifting lower toward mid-60s range and sentiment turning bearish over and over again. Yet beneath the surface, a key on-chain metric is moving in the opposite direction. Blockchain analytics firm Santiment showed that the number of wallets holding at least 100 BTC is
bullish:

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bearish:

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