![Dormant Bitcoins [BTC] are moving again as sentiment turns neutral](https://www.tronweekly.com/wp-content/uploads/2021/08/michael-fortsch-ywmZG5IIwGc-unsplash-e1627894811625.jpg "Dormant Bitcoins [BTC] are moving again as sentiment turns neutral 1")
Bitcoin [BTC] was back above $40K after the weekend tumble. August has opened the doors for the silent bulls that have managed to stir a resurgence in the price of the world’s largest cryptocurrency. The dollars invested in Bitcoin and are on the move according to the blockchain analytics platform Santiment.
According to the firm, the mean dollar invested ages in the bull run for both Bitcoin and Ethereum has not stayed dormant. As a matter of fact, more and more dollars are being poured into the coin market and the previously dormant investment was being moved.
Santiment’s latest insight revealed the flattening of the Mean Dollar Invested Age as Bitcoin was marching closer to its all-time high depicting a phase of dry up. However, this trend has since changed. As price saw a series of downtrend after mid-May, the metric for not just Bitcoin but also Ethereum has been moving back up.
The crypto analytic platform revealed,
“We’re seeing some renewed movement in invested dollars (for BTC at least, not ETH), and BTC’s line is curling down again. If the line continues to move down from here, it can be a prime signal to reveal a second bull cycle may be starting.”
Bitcoin [BTC] sentiment turns to Neutral
Bitcoin addresses currently owning 100-10,000 BTC now collectively hold 9.23 million coins in their wallets. Interestingly, this is a new peak for this tier demonstrating a massive bullish phase. In fact, the previous all-time high was observed to be on the 5th of April, just one week prior to the crypto-asset’s price surging above $64K.
Over the past month, these addresses have accumulated nearly 170K more BTC. This tremendous pace mirrors to that of late December 2020, just before the staggering bull run that started this year.
Additionally, the flagship cryptocurrency finally made a comeback to ‘neutral’ after being stuck in ‘fear’ territory since mid-May. As Bitcoin reached $42,600 after recovery last week, sentiments around the collective crypto market appeared to be returning back to normal.
