Data indicates that investor interest in bitcoin is on the rise, despite its static price.

At Extreme Investor Network, we understand the challenges and uncertainties that come with investing in the cryptocurrency market. As experts in the field, we aim to provide our readers with unique insights and valuable information to help them navigate the ever-changing landscape of digital assets.

Crypto investors have been experiencing a sense of déjà vu as the price of bitcoin has remained stagnant for months. However, recent data suggests that demand for the cryptocurrency is slowly creeping back up, hinting at a potential price surge in the near future.

According to CryptoQuant, miner capitulation has reached levels similar to those seen in December 2022, signaling a possible bottom in the Bitcoin network hash rate. Historically, such capitulation has often preceded price rallies, as it indicates that prices are too low for inefficient miners to remain profitable.

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While the price of bitcoin largely depends on growing demand, recent data shows a promising trend. Whale demand is reportedly growing at a rate of 6% month-over-month, indicating a healthy demand growth environment. In the past, price rallies have been stronger when demand growth surpassed 6% month-over-month, suggesting that there is still room for growth in demand.

Despite being down 8% over the past three months, bitcoin is still up 44% for the year. Many investors remain optimistic about the future prospects of bitcoin, citing potential catalysts such as spot ether ETFs, U.S. rate cuts, and regulatory clarity post-U.S. presidential election.

At Extreme Investor Network, we understand that patience is key when it comes to investing in bitcoin. Past cycles have shown that significant price movements often occur months after the halving event. As we look towards the future, the possibility of a $100,000 bitcoin remains on the horizon, with the period of consolidation since March laying the groundwork for the next leg upward.

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Stay informed with the latest insights and analysis from Extreme Investor Network to make informed decisions in the dynamic world of cryptocurrency investing.

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