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Long-term Bitcoin holders are showing signs of growing greedas the price of BTC steadily approaches the $100,000 mark. A crypto analyst has underscored the significance of this market trend, highlighting that a possible Bitcoin market topcould be incoming in the next few months. Long-Term Holders Stay Greedy
On-chain data from Glassnode reveal that long-term Bitcoin holders are showing a significant level of greed, which continues to intensify as the price of BTC maintains its bullish trajectory. While the flagship cryptocurrency inches closer to the anticipated $100,000 milestone, these long-term holders, or HODLers, stay relentless, showing no signs of selling their holdingsdespite rising prices and increasing profits. Related Reading Dogecoin ATH Incoming? Analyst Issues 2-Day Price Forecast 1 day ago
Datafrom the market intelligence platform IntoTheBlock indicates that 98% of Bitcoin holders are making profitsat the current market price. This underscores Bitcoin’s remarkable performance this month, as most long-term holdersacquired their holdings at prices lower than BTC’s current market valuation.
Popular crypto analyst Ali Martinez noted in an X (formerly Twitter) postthat historically, a growing increase in Bitcoin long-term holders’ greed suggests the potential for an imminent price leap to new highs. He revealed that when holders’ greed showed elevated levels in previous bull cycles, it took 8-11 months for Bitcoin to reach a new market top. Source: X
The analyst has predicted that if this trend holds true, the market should expect Bitcoin to hit a potential price peak between June and September 2025. Based on his price chart, Bitcoin long-term holdersshowed extreme levels of greed during the previous bull markets that followed the cyclic halving events.
The steady increase in long-term holders’ greed can be taken as a good sign, as this suggests that fewer coins are in circulation or available for trading, ultimately creating scarcity. With demand for Bitcoin risingamidst bullish market trends, the cryptocurrency price could eventually hit the coveted $100,000 price mark.
While the broader market and numerous crypto analysts anticipate a breakthrough to $100,000, many Bitcoin holders are demonstrating firm resolve by holding onto their assets. This unwavering courage in Bitcoin’s potential discourages panic selling during the current bull market, as the market remains optimistic about further price surgesin the cryptocurrency. Related Reading Dogecoin Extends Rally – Can This Lead To A Breakout Above $0.82? 20 hours ago Bitcoin Price Could Hit $100,000 Today
In a more recent X post, Martinez revealed that today could be the day Bitcoin finally reaches its $100,000 all-time high. The analyst revealed that the SuperTrend indicatoron the Bitcoin hourly chart has flipped bullish, indicating that prices have broken through a resistance trend line and the Relative Strength Index (RSI).
The price of Bitcoinis currently trading at $98,288, reflecting a 7.16% increase over the past week. To reach the $100,000 milestone, the cryptocurrency needs to rise by $1,712, requiring only a 1.74% increase from its current price. BTC price retraces from spike | Source: BTCUSD on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com