Fun

Long-Term Bitcoin Holders Remain Greedy Amid Price Break Toward $100,000, Why This Is Good

News Feed - 2024-11-26 06:11:12

Este artículo también está disponible en español.


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

News Feed

Chia Network Files for IPO With the SEC, Eyes Public Listing
Chia Network Files for IPO With the SEC, Eyes Public Listing On Friday, Chia Network Inc. announced that it had submitted a draft registration statement on Form S-1 to the U.S. Sec
Bitcoin moves toward range highs but derivatives traders watch from the sidelines
Marcel Pechman2 hours agoBitcoin moves toward range highs but derivatives traders watch from the sidelinesBitcoin price showed strength near its medium-term range high but multiple factors are preventing derivatives trad
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Below Key Resistance Levels
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Below Key Resistance Levels Following strong gains during Wednesday’s session, bitcoin and ethereum both saw price
William Suberg5 hours agoBitcoin price tests $27K support as Fed holds interest rates at FOMCBitcoin weathers the Fed"s decision to keep rates at their previous levels, while Chair Jerome Powell reveals the potential for
Linea receives first contributor for open-source L2 rollup
Josh O"Sullivan12 hours agoLinea receives first contributor for open-source L2 rollupStatus partners with Linea, marking the beginning of a significant contribution to Linea’s zkEVM-powered L2 rollup as part of a broad
Dogecoin Open Interest Plunges 58%: How Do Shiba Inu & Pepe Compare?
Este artículo también está disponible en español. Data shows the Dogecoin Open Interest has seen a large drop recently. Here’s how the trend has compared for Shiba
DeFi hub Chainage seeks tokenholder approval for $13M capital raise
Zhiyuan Sun6 hours agoDeFi hub Chainage seeks tokenholder approval for $13M capital raise“Pending DAO approval, we will advance with the particulars of the investment and detail the precise arrangements and plans,” t
Ana Paula Pereira4 hours agoTokenization is “securitization done on steroids" — Franklin Templeton CEOSpeaking at CNBC’s Delivering Alpha event, Jenny Johnson discussed how digital assets are disrupting securi
Spanish Real Estate Agency Begins Accepting Bitcoin Payments for Properties in the Canary Islands
Spanish Real Estate Agency Begins Accepting Bitcoin Payments for Properties in the Canary Islands Crypto adoption keeps spreading among the real estate industry
Big Four Accounting Firm Deloitte Forges Partnership With Ava Labs to Leverage Avalanche Blockchain
Big Four Accounting Firm Deloitte Forges Partnership With Ava Labs to Leverage Avalanche Blockchain On Tuesday, one of the Big Four accounting organizations, Deloitte announced a s
Bitstamp helps Stripe scale crypto purchases in the EU
Helen Partz9 hours agoBitstamp helps Stripe scale crypto purchases in the EUBitstamp entered a partnership to support Stripe’s crypto on-ramp solution in Europe a few months after Robinhood announced its $200 million a
Blockchain Gaming Publisher and Web3 Firm Animoca Brands Secures $110 Million
Blockchain Gaming Publisher and Web3 Firm Animoca Brands Secures $110 Million Blockchain gaming publisher Animoca Brands announced the company has raised $110 million in a funding