Bitcoin – How THIS shift in LTH strategy could push BTC to $120K
Main Idea
Long-term Bitcoin holders are reducing sales and shifting back to holding, potentially driving BTC toward $120K as market activity shows signs of bullish accumulation.
Key Points
1. Bitcoin daily sales from long-term holders have dropped, with buy activity gradually returning to the market.
2. Trading volume surged 32.95% to $79 billion, indicating increased market activity.
3. Long-term holders have shifted from offloading $1 billion worth of Bitcoin to accumulating $51 million in the past day.
4. Binary CDD and Fund Flow Ratio data show reduced Bitcoin movement to exchanges, suggesting a holding trend.
5. The spot market appears bullish, with a notable shift from a $242 million sell-off to accumulation.
Description
Long-term Bitcoin holders are easing off after a week of heavy selling.
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