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Bitcoin has spent the last five days action within a relatively narrow range between $ 106,229 and $ 111,807, after the recent highest highest point of $ 111,814. Despite the increase in Sales pressure of miners After the all time, the price of Bitcoin has succeeded in contain more than $ 108,000, with data on chains with Bitcoin Diamond Hands absorb all sales pressure.
Long -term holders gather with minimal editions
According to data from the On-Chain Analytics platform Cryptoquant, the long-term holder (LTH) Binary Indicator has fallen to the lowest level since September 2024. This interesting trend was initially noted On the social media platform X by crypto analyst Alex Adler Jr.
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The 15-day advancing average of this metric, as shown in the graph by cryptoquant, has fallen to the minimum spending zone. In particular, this zone consistently preceded a more bullish in the Bitcoin price.
Parallel, Long -term offering has increased by around 300,000 BTC in the last 20 days. This marks a deviation from the trend of falls in the long -term holder since 2024. At the time of writing, 14.6 million BTC, which represents approximately 74% of the total current circulating nutritional stock of BTC, is classified in addresses as long -term holders.
This pattern suggests that so -called “diamond hands”, ie investors with a strong conviction that remain due to volatility, are Not just abandon Sell with the recent new peak from Bitcoin, but active accumulate. The graph below shows the correlation between minimal LTH expenditure and rising price action, a behavior that is also in accordance with phases of the upward trend of Bitcoin in 2019, end 2020 and the end of 2024.
Why it is bullish for the market
The significant increase in the range of long -term holder, combined with minimal sales activity, reveals a hidden power in the market. The current behavior of long -term investors also indicates them Trust in the appreciation of Bitcoin At the current level, despite the recent price button. Many of these long -term holders have a considerable profit, but still choose to hold. This is In contrast to short -term holderS, who have jointly realized more than $ 11.6 billion in profit In the past month alone.
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Signing a parallel with historical data, the current decrease in spending for long -term holder (LTH) reflects a similar pattern that was observed in September 2024. At that time, the LTH indicator in the minimum zone and the supply in the long term also increased steadily.
What followed was a remarkable increase of 96% in Bitcoin’s price, which rose from around $ 54,000 to peaks around $ 106,000 in December and January. If the market followed a similar process from the current price level, a comparable 96% rally Bitcoin to a new peak near $ 212,000 would see.
At the time of writing, Bitcoin acts at $ 109,000.
Featured image of Getty Images, Chart van TradingView.com