Bitcoin’s Long-Term Holders Shift Toward Accumulation, Suggesting Potential for Price Growth
Main Idea
Bitcoin long-term holders are reducing daily sales and shifting towards accumulation as prices approach all-time highs, indicating a potential bullish market sentiment.
Key Points
1. Bitcoin long-term holders have significantly reduced their daily sales, now below $1 billion compared to previously above $1 billion.
2. The Binary CDD metric indicates a preference for holding over immediate sell-offs among investors.
3. The spot market shows bullish sentiment with recent purchases of $51 million worth of Bitcoin, a shift from a $242 million sell-off earlier in August.
4. If the accumulation trend continues, Bitcoin may break its all-time high and enter a new price discovery phase.
5. Institutional Bitcoin treasuries are projected to reach 1.86 million BTC by August 2025.
Description
Bitcoin long-term holders have significantly reduced their daily sales, indicating a renewed interest in accumulation as prices approach previous highs. Long-term holder sales have dropped below $1 billion daily, a
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