Bitcoin Price Reaches Over 70000 Analysts Raise Concerns

The current positive status of Bitcoin’s dual CDD (Coin Days Destroyed) metric suggests that those who have held onto their cryptocurrencies for the long term are not actively trading. This trend is seen as a sign of optimism in the potential for price growth, with these holders anticipating higher valuations down the line. Furthermore, the rising funding rate of Bitcoin indicates that traders with long positions are in control and are willing to pay those with short positions, further solidifying the overall bullish outlook.