Investor optimism and confidence Bitcoin Rising rapidly after the recent surge in major asset prices to previous resistance. This growing investor sentiment can be particularly seen among long-term Bitcoin holders, strengthening its position as a leading digital asset for long-term investments.
High supply of long-term Bitcoin holders
With the market showing a healthy trend, Axel Adler Jr., an expert and author on the blockchain, has identified a shift in the behavior of long-term Bitcoin holders. The expert I mentioned Holder supply has increased slightly, reflecting renewed confidence among sophisticated investors despite recent market volatility.
This modest growth means that investors who retained… Bitcoin For a long time, they have been gradually accumulating assets, indicating a growing belief in BTC’s future potential. If this trend continues, as we saw in the previous scenarios, such developments could lead to a rise in Bitcoin prices.
Axel Adler cited the rise after a comprehensive investigation into Short term pregnant vs. A measure of long-term carrier supply. This trend often coincides with periods when the market is consolidating, which may set the stage for subsequent significant price movement.
According to Axel Adler, Long lasting holder The supply showed a slight increase compared to the supply of short holders after the selling peak at the $100,000 level. Adler highlighted that the progress indicates that Bitcoin purchased around 155 days ago has now entered the LTH pool. If this growth continues next week, the sales of long-term bondholders at recent levels can be considered to have ended.
The total supply of BTC in profit is seeing significant growth
The rise in supply for long-term holders comes as the supply of Bitcoin gains sharply. Data Adler shows that more than 90% of the total BTC supply is currently generating profits, indicating growing optimism in the cryptocurrency market.
As the market gains momentum, this growth underscores the significant gains for long-term shareholders and the strength of the recent increase in Bitcoin prices. Furthermore, this development may lead to extended upward momentum or a potential profit-taking phase.
In the absence of a “black swan” event in… Continuous cycleAlder highlighted that the market could reverse the bull cycle of 2017. Specifically, this will be defined by an uptrend with few reversals to… metric 80% level.
If it were not for restrictions on mining in China, which halted the uptrend, the expert believes that the 2021 cycle would have followed a similar path. So far, investors and traders are closely monitoring the impact of the trend on prices as the metric is important in determining the next path for BTC.
Currently, Bitcoin has seen a sharp decline after a significant rise to around $102,000, which has sparked uncertainty within the community regarding it. Bull race. Despite the decline, many investors maintain positive sentiment, as evidenced by the nearly 31% rise in trading volume in the past day.
Featured image from Unsplash, chart from Tradingview.com