Bitcoin’s Big Week: Election, FOMC Meeting, And Strong Signs Of A Bull Market
The post Bitcoin’s Big Week: Election, FOMC Meeting, And Strong Signs Of A Bull Market appeared on BitcoinEthereumNews.com.
As the market faces one of its most volatile weeks—amid the U.S. election and the Federal Open Market Committee (FOMC) meeting—Bitcoin appears primed for a lasting rally. Historically, major bull runs have followed post-election periods, and analysts are optimistic about Bitcoin’s potential, forecasting it could hit $100,000 by year’s end, regardless of whether Trump or Harris secures the presidency. The market is entering its most volatile week with the U.S. election and FOMC meeting, but this rally may be here to stay. Historically, the real bull run begins post-election, and we believe that whether Trump or Harris becomes the next president, $BTC will continue its upward… pic.twitter.com/7cvCo8QxGK — Spot On Chain (@spotonchain) November 4, 2024 Long-term Bitcoin holders (LTHs) recently sold 177,617 BTC over the past week. Such activity is often seen as a contrarian signal; LTHs typically buy during market dips and reduce holdings during price rallies. This behavior mirrors patterns observed during previous bull markets in 2018, 2021, and early 2024, suggesting that despite LTH sales, broader demand remains resilient. Bitcoin Long-Term Holders (🔵) Sold 177,617 BTC in the Last 7 Days This chart displays Balance Changes by Time Held, offering insight into the movement of older Bitcoin. These older coins, referred to as Long-Term Holders (LTH), typically belong to investors with a long-term… pic.twitter.com/wiCVdIbf9e — Maartunn (@JA_Maartun) November 4, 2024 Whale Continues Accumulating Bitcoin Demand for Bitcoin yield-generating options, like staking, is also rising, with over 15% of all Wrapped Bitcoin now staked. Meanwhile, whales continue to accumulate, viewing recent price levels as attractive entry points. Since November 1, five major Bitcoin addresses collectively acquired 2,780 BTC, valued at around $192.4 million. Over 15% of all Wrapped Bitcoin is now staked, reflecting an ongoing rise in demand for Bitcoin yield-generating options like staking. Are you staking your…
Filed under: News - @ November 5, 2024 5:26 am