• TrueUSD’s market cap has been on the rise, which historically was followed by hikes in BTC’s price. Metrics also pointed at a possible market bottom.
• Bitcoin’s NVT Signal reached a one-month low on 25 August and its exchange reserve declined, indicating a possible exit from its bearish trend.
• Whales have started accumulating Bitcoin, signaling that they expect the coin’s price to surge in coming days.

TrueUSD’s Market Cap on the Rise

TrueUSD’s market capitalization has been increasing of late, while most of the other stablecoins‘ market cap graphs remained relatively flat. Historically, whenever TUSD’s market cap has risen, BTC’s price has followed suit. This happened earlier this year in January, March and July, giving hope for a price uptick this time as well.

Bitcoin’s NVT Signal Low

Glassnode’s data revealed that BTC’s NVT Signal just reached a 1-month low of 1,292.206. A low NVT signal indicates that investors were pricing Bitcoin at a discount and also suggests a possible market bottom – the right time to accumulate Bitcoin.

Whales Accumulating Bitcoin

In line with this development, whales have already started accumulating BTC as they expect the coin’s price to surge in coming days. Addresses holding between 10 and 10,000 BTCs added about 11,629 coins to their existing reserves recently – another sign of an imminent bull run?

Will We Exit The Bear Market?

If all these metrics are taken into consideration together it is likely that we will soon exit the bearish trend and enter into an uptrend phase again with higher prices for Bitcoin (BTC).

Conclusion

All signs point towards an imminent bull run triggered by TrueUSD’s rising market capitalization and Bitcoin’s low NVT signal suggesting lower prices than what is currently being traded at exchanges; further bolstered by whales accumulating more coins than before – could this be our exit from the bearish trend? Only time will tell!