{"id":608131,"date":"2024-05-15T20:00:15","date_gmt":"2024-05-15T20:00:15","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=608131"},"modified":"2024-06-11T07:00:47","modified_gmt":"2024-06-11T07:00:47","slug":"bitcoin-holders-70000-btc","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/bitcoin-holders-70000-btc\/","title":{"rendered":"Bitcoin Long-Term Holders Buy The Blood, Snatch Up 70,000 BTC"},"content":{"rendered":"

Glassnode <\/span>data<\/span><\/a> has revealed that <\/span>Bitcoin long-term holders<\/span><\/a> are taking advantage of the cryptocurrency\u2019s lower price to significantly increase their holdings. This accumulation further strengthens the belief that this group of Bitcoin investors anticipate a <\/span>potential upside<\/span><\/a> for Bitcoin despite its recent volatility.\u00a0<\/span><\/p>\n

Long-Term Holders Pay $4.3 Billion For 70,000 BTC<\/h2>\n

According to <\/span>Glassnode<\/span><\/a>, long-term Bitcoin holders who had previously <\/span>sold<\/span><\/a> 1 billion BTC in the latter part of 2023 are accumulating once again. This buying activity could be interpreted as a potential bullish signal for Bitcoin.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Volume Flips Dogecoin, Will SHIB Price Flip DOGE If This Analyst\u2019s Prediction Comes True?<\/a><\/div>\n

Traditionally, Bitcoin long-term holders <\/span>sell their holdings<\/span><\/a> during peak prices and buy new tokens during periods of correction or substantial declines. When these seasoned investors buy cryptocurrencies during market lows, it usually indicates their expectations of a potential rebound, <\/span>leading to profits.\u00a0<\/span><\/a><\/p>\n

On the other hand, <\/span>short-term holders<\/span><\/a> are known to buy cryptocurrencies during sporadic price surges, often signaling that a cryptocurrency is nearing its peak.\u00a0<\/span><\/p>\n

With Bitcoin presently stabilizing above $61,000, long-term Bitcoin holders probably see the cryptocurrency\u2019s value as a <\/span>prime buying opportunity<\/span><\/a>. They have recently added a staggering 70,000 BTC valued at over $4.3 billion to their holdings.\u00a0\u00a0<\/span><\/p>\n

\"Bitcoin
Source: Glassnode<\/figcaption><\/figure>\n

This sentiment for Bitcoin\u2019s potential rally is also shared by a few crypto analysts who have <\/span>predicted<\/span><\/a> that the cryptocurrency would surge to new all-time highs during the <\/span>approaching bull market<\/span><\/a>. Earlier in March, before Bitcoin\u2019s halving event, the cryptocurrency skyrocketed above $73,000, marking a new historic all-time high.\u00a0<\/span><\/p>\n

With the bull market still on the way, Bitcoin could <\/span>see further upsides<\/span><\/a> as market conditions improve and investor demand rises. This could potentially lead to profits for long term holders who had purchased the cryptocurrency earlier.\u00a0<\/span><\/p>\n

Moreover, the upcoming <\/span>United States inflation report<\/span><\/a>, set for release on May 15, could also be another primary factor driving long-term investors\u2019 substantial BTC accumulation. With the US Consumer Price Index (CPI) remaining historically <\/span>high<\/span><\/a>, and the <\/span>Federal Reserve (FED) <\/span><\/a>unchanged rates, Bitcoin is seen as a possible hedge against inflationary pressures, protecting investors’ wealth against decline.\u00a0\u00a0<\/span><\/p>\n

Bitcoin Whales Display Opposite Trend<\/h2>\n

Reports from blockchain analytics platform Santiment reveal that Bitcoin whales are showing an opposite trend from long-term holders.\u00a0<\/span><\/p>\n

The analytics platform <\/span>noted<\/span><\/a> that Bitcoin whales appear to be taking a break from accumulating BTC, as the number of large-scale transactions has been decreasing significantly.\u00a0<\/span><\/p>\n

Related Reading: Dogecoin Derivatives Volume Jumps 111% As Open Interest Spikes, But What About Price?<\/a><\/div>\n

This trend coincides with the cryptocurrency\u2019s reduced <\/span>on-chain activities<\/span><\/a> and its <\/span>declining value<\/span><\/a> over the past few weeks.<\/span><\/p>\n

Crypto analyst Ali Martinez has also shared a similar report, emphasizing that Bitcoin\u2019s accumulation trend score is currently displaying a value closer to zero, indicating that larger investors were distributing their holdings rather than buying.\u00a0<\/span><\/p>\n

Despite the downtrend, Martinez has <\/span>disclosed<\/span><\/a> that Bitcoin\u2019s current TD sequential is signaling a <\/span>buying opportunity<\/span><\/a> and the cryptocurrency was poised for a <\/span>rebound soon<\/span><\/a>. At the time of writing, the cryptocurrency\u2019s price is trading below $62,000, receiving a decrease of about 6.38% in the last month, according to CoinMarketCap.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC bulls push price above $62,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from StormGain, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Glassnode data has revealed that Bitcoin long-term holders are taking advantage of the cryptocurrency\u2019s lower price to significantly increase their holdings. This accumulation further strengthens the belief that this group of Bitcoin investors anticipate a potential upside for Bitcoin despite its recent volatility.\u00a0 Long-Term Holders Pay $4.3 Billion For 70,000 BTC According to Glassnode, long-term Bitcoin holders who had previously sold 1 billion BTC in the latter part of 2023 are accumulating once again. This buying activity could be interpreted as a potential bullish signal for Bitcoin.\u00a0 Related Reading: Shiba Inu Volume Flips Dogecoin, Will SHIB Price Flip DOGE If This Analyst\u2019s Prediction Comes True? Traditionally, Bitcoin long-term holders sell their holdings during peak prices and buy new tokens during periods of correction or substantial declines. When these seasoned investors buy cryptocurrencies during market lows, it usually indicates their expectations of a potential rebound, leading to profits.\u00a0 On the other hand, short-term holders are known to buy cryptocurrencies during sporadic price surges, often signaling that a cryptocurrency is nearing its peak.\u00a0 With Bitcoin presently stabilizing above $61,000, long-term Bitcoin holders probably see the cryptocurrency\u2019s value as a prime buying opportunity. They have recently added a staggering 70,000 BTC valued at over $4.3 billion to their holdings.\u00a0\u00a0 This sentiment for Bitcoin\u2019s potential rally is also shared by a few crypto analysts who have predicted that the cryptocurrency would surge to new all-time highs during the approaching bull market. Earlier in March, before Bitcoin\u2019s halving event, the cryptocurrency skyrocketed above $73,000, marking a new historic all-time high.\u00a0 With the bull market still on the way, Bitcoin could see further upsides as market conditions improve and investor demand rises. This could potentially lead to profits for long term holders who had purchased the cryptocurrency earlier.\u00a0 Moreover, the upcoming United States inflation report, set for release on May 15, could also be another primary factor driving long-term investors\u2019 substantial BTC accumulation. With the US Consumer Price Index (CPI) remaining historically high, and the Federal Reserve (FED) unchanged rates, Bitcoin is seen as a possible hedge against inflationary pressures, protecting investors’ wealth against decline.\u00a0\u00a0 Bitcoin Whales Display Opposite Trend Reports from blockchain analytics platform Santiment reveal that Bitcoin whales are showing an opposite trend from long-term holders.\u00a0 The analytics platform noted that Bitcoin whales appear to be taking a break from accumulating BTC, as the number of large-scale transactions has been decreasing significantly.\u00a0 Related Reading: Dogecoin Derivatives Volume Jumps 111% As Open Interest Spikes, But What About Price? This trend coincides with the cryptocurrency\u2019s reduced on-chain activities and its declining value over the past few weeks. Crypto analyst Ali Martinez has also shared a similar report, emphasizing that Bitcoin\u2019s accumulation trend score is currently displaying a value closer to zero, indicating that larger investors were distributing their holdings rather than buying.\u00a0 Despite the downtrend, Martinez has disclosed that Bitcoin\u2019s current TD sequential is signaling a buying opportunity and the cryptocurrency was poised for a rebound soon. At the time of writing, the cryptocurrency\u2019s price is trading below $62,000, receiving a decrease of about 6.38% in the last month, according to CoinMarketCap.\u00a0 Featured image from StormGain, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":608171,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,85960,84666,656,679,1119,89185,1122,1144,78790,84109],"class_list":["post-608131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-holders","tag-bitcoin-long-term-holders","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-long-term-holders"],"acf":[],"yoast_head":"\nBitcoin Long-Term Holders Buy The Blood, Snatch Up 70,000 BTC<\/title>\n<meta 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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