CoinWired news: latest on-chain data from CryptoQuant shows that the net position change of Bitcoin long-term holders (LTH) reached 1.29 million BTC within the past 30 days, marking the largest increase in six years. This figure surpasses the record during the 2017 bull market, sparking speculation that a new Bitcoin bull run may be imminent. Although Bitcoin has not yet regained momentum and remains in a downward trend, long-term holders are moving back into the market. The data indicates that strong accumulation by long-term holders drove a 15% price rise during Bitcoin’s rebound from about $58,000 to $66,000. If this buying continues, the market expects Bitcoin could rise further to $70,000.

BTC0.68%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned