In the first half of last week, rumors about Apple buying Bitcoins worth over $2 billion spread across the crypto-related social media platforms.Source: TwitterMany cryptocurrency enthusiasts expect such kind of news (about big players entering the market) to revert the price decline of Bitcoin and resume the uptrend.Source: TwitterHowever, these rumors have remained unconfirmed so far, and the crypto market has remained under bearish pressure:Source: TwitterNevertheless, the Bitcoin fundamentals are starting to improve, and it seems that internal factors will drive the potential uptrend renewal. According to a recently published newsletter by Glassnode, Bitcoin miners are returning to the so-called \u2018accumulation phase.\u2019 That means that they are starting to accumulate BTC to sell it later at higher levels:Source: GlassnodeAlso, the insight by Glassnode claims that the outflows from the crypto exchanges are intensifying. A signal that the retail investors are buying crypto with the primary purpose to hodl it:Source: GlassnodeAnd, although the Bitcoin price fundamentals have started to improve, the market has recorded another week of consolidation. Now, the Monday market starts with some mixed price dynamics. According to Coin360.com, one Bitcoin costs \u20ac26,990.46 (+0.35%), one Ethereum \u2014 \u20ac1,622.23 (-2.31%), one DOGE \u2014 \u20ac0.1510 (-5.28%), and one UNI \u2014 \u20ac14.19 (+0.35%):Source: Coin360.com (Daily crypto market performance)Now let us look at the price charts of the leading cryptocurrencies against the euro in the most noteworthy time frames.BTC\/EURIn the daily chart (1D), the price of Bitcoin continues to consolidate between the 360-day Moving Average (MA 360) and 30-day Moving Average (MA 30):MA 360 is solid support for the price of BTC, and it will be very hard for the bears to push the price below the moving average. However, MA 30 puts pressure on Bitcoin and does limit the price to increase.The crypto bulls should keep an eye on the 1-hour chart\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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