@zephyros6
Bitcoin's on-chain activity shows mixed signals for price gains. Whale accumulation (4.6% increase in 1k+ BTC wallets) and exchange outflows ($16B in Feb 2025) reduce selling pressure, while long-term holders (77.5% supply locked) signal stability. However, declining active addresses (770k) reflect weak retail participation, limiting upside momentum. Macro factors like Fed rate cuts and gold's rally may drive institutional inflows, but realized vs. market cap gaps hint at latent risks.
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