Bitcoin Diamond Hands Loyalty Amid Highs
The phenomenon of ‘diamond hands’ holding firm as Bitcoin reaches significant price levels is not new but remains a cornerstone of market stability.Even with Bitcoin’s price hovering around $67,722—down 3.5% over the past week but still up slightly by 0.6% in the last 24 hours—these investors are not rushing to cash out.
Additionally, Glassnode’s report highlights that long-term holders are yet to reach the point of selling that typically precedes a market downturn.
The Future Holds Optimism
Moving forward, Glassnode anticipates that LTHs will continue to play a pivotal role in the market dynamics. Their recent behavior indicates a shift towards re-accumulation following significant distribution around the $73k all-time high.
Such patterns underscore a sophisticated strategy: Bitcoin’s most steadfast supporters may be gearing up for another run, anticipating higher peaks beyond current levels.
Amid these developments, crypto analyst Cryptorphic has forecasted Bitcoin reaching as high as $156,000 by May 2025, adding to the sentiment around Bitcoin, which remains interestingly bullish.
could hit $156,000 by May 27 2025!Featured image created with DALL·E, Chart from TradingViewThese green boxes represent the price action after halvings. We’ve never seen a red year after a halving.
— Cryptorphic (@Cryptorphic1)
Bitcoin halvings are significant events, here are the percentages of Bitcoin’s price increase one year after each halving…