CryptoQuant analyst Axel recently highlighted a significant trend in Bitcoin’s market dynamics during the current bull run. Data indicates that long-term holders (LTH) have been steadily increasing their Bitcoin accumulation ahead of major price rallies. Historically, this pattern first emerged near the $28,000 price point, where a sustained rise in the LTH to short-term holder (STH) ratio preceded a surge to $60,000.
The second notable accumulation phase occurred during the consolidation around $60,000, setting the stage for Bitcoin’s next rally towards $100,000. Presently, at the critical $100,000 threshold, the LTH/STH ratio continues to climb, suggesting an ongoing accumulation period that could extend for another 4 to 8 weeks. This behavior aligns with previous cycles, reinforcing the potential for a robust upward trend.
Applying a conservative multiplier of 1.6x to this pattern, market projections estimate Bitcoin’s next significant price target to be approximately $160,000. Such insights underscore the importance of monitoring holder composition as a key indicator for future price movements in the cryptocurrency market.