The report noted that the news of SpaceX, led by Elon Musk, writing off a portion of its Bitcoin holdings in the previous quarter, played an added role in fueling the correction within the cryptocurrency markets in August.
The balance retained in addresses holding coins for a minimum of 155 days has surged by $1.87 billion this month.
The Ichimoku cloud, developed by Goichi Hosoda, a Japanese journalist, in the late 1960s, serves as a valuable tool for traders and analysts to observe momentum and trend direction with greater precision.
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