Long-Term Holders Accumulate
Bitcoin’s long-term holders are scooping up the cryptocurrency at its current lower price. This suggests they believe in its potential for growth, despite recent fluctuations.
70,000 BTC Bought
These long-term holders have bought a whopping 70,000 BTC, worth over $4.3 billion. This buying spree is seen as a bullish signal for Bitcoin.
Short-Term Holders Sell
In contrast, short-term holders tend to sell during price surges. Their recent selling activity indicates that Bitcoin may be nearing its peak.
Whales Take a Break
While long-term holders are buying, Bitcoin whales are taking a break from accumulating. This is evident in the decreasing number of large-scale transactions.
Buying Opportunity
Despite the recent dip, crypto analyst Ali Martinez believes Bitcoin is poised for a rebound. The TD sequential indicator is signaling a buying opportunity.
Inflation Hedge
The upcoming US inflation report could drive further accumulation by long-term investors. Bitcoin is seen as a potential hedge against inflation, protecting wealth against value loss.
