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Benzinga
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Benzinga Contributor

Charles Schwab To Launch Crypto ETF While Bitcoin Stalls

Charles Schwab Marcus Sotiriou United Kingdom

By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock

Bitcoin (CRYPTO: BTC) has stalled around $40-$41k whilst on-chain metrics suggest that the accumulation phase has begun. Accumulation phases precede bull markets, whilst distribution phases precede bear markets. Analysis from CryptoQuant shows how the market cap for 6-month-old Bitcoin was 13% at the cycle top, whereas it is now 52%. A larger proportion of investors are becoming long-term holders is beneficial for price appreciation, as it is clear that more investors are seeking higher prices to sell.

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