Cathie Wood: Bitcoin Rebound Signals Possible New Bull Market
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Bitcoin rebounded at the end of 2022, surpassing key technical indicators that suggest it is in the early-to-mid stage of a new bull market
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Long-term Bitcoin holders are starting to take some profits, but selling pressure could remain low until prices reach much higher levels
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90% of the Bitcoin supply was sitting at a profit at the end of December, last seen at these levels when Bitcoin was near $59k in November 2021
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Bitcoin miners earned 26% more revenue in December 2022 compared to November, attracted by surging transaction fees on the network
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Mining difficulty has doubled since December 2021 as more miners compete to validate transactions, enhancing Bitcoin's security and long-term value proposition