Long-Term Bitcoin (BTC) Investors Mobilize Amid Market Shifts

  • Long-term Bitcoin holders have resumed accumulation for the first time since December 2023, following months of selling, according to Glassnode data.
  • Analysts noted that the selling pressure from long-term BTC holders significantly decreased last week, suggesting that volatility is needed to motivate any new wave of selling.
  • In a report published by Glassnode, it was stated, “Bitcoin, approaching its all-time high, continues its accumulation process, with long-term BTC investors resuming accumulation for the first time since December 2023.”

Long-term Bitcoin holders are accumulating again, signaling a potential bullish trend. Discover the latest insights and market analysis.

Positive Development for Bitcoin’s Bull Cycle

Glassnode’s report identified factors indicating a resurgence in buyer demand. The report highlighted that U.S.-based spot BTC ETFs experienced a net inflow of $242 million per day last week.

Comparative Analysis with Previous Bull Cycles

Glassnode observed that Bitcoin’s price movement over the past three months has been quieter compared to previous bull cycles. According to Glassnode, Bitcoin recorded increases of 3.3%, 7.4%, and 25.6% on a weekly, monthly, and quarterly basis, respectively, on only five days out of the last 90 days.

Analysts stated, “In previous cycles, this number ranged between 18 to 26 days, suggesting that the current market might be somewhat more measured compared to historical bull markets.”

Conclusion

In summary, the recent accumulation by long-term Bitcoin holders and the significant inflows into U.S.-based spot BTC ETFs indicate a positive outlook for Bitcoin’s bull cycle. However, the market appears to be more measured compared to previous cycles, suggesting a potential for steady growth. Investors should conduct their own research and consider the inherent risks before making any investment decisions.

BREAKING NEWS

BNY Mellon Unveils BSRXX: A Stablecoins Money Market Fund to Meet GENIUS Act 93-Day Maturity Requirements

COINOTAG News reports that BNY Mellon is rolling out...

$AVNT listed on Robinhood spot

$AVNT listed on Robinhood spot #AVNT

USUAL releases updated token economics proposal, suggesting a 25% reduction in maximum token supply and an 85% reduction in emissions.

USUAL releases updated token economics proposal, suggesting a 25%...

Ethereum 25x Long Bet: Buddy Huang Lizheng Builds $13.66M ETH Position with a $3,095.6 Liquidation Price

COINOTAG News, citing HyperInsight, reports that Buddy Huang Lizheng...

Bitcoin Underperforms 30 Altcoins as CoinMarketCap’s Altseason Index Rises to 30

As of November 13, CoinMarketCap's Altseason Index stands at...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img