The post Bitcoin’s road to $100K: How investor greed could extend the timeline appeared on BitcoinEthereumNews.com.

More than 98% of BTC addresses were in profit, thanks to its bullish price trend.  Accumulation was high, but indicators suggested that Bitcoin was getting overvalued.  Bitcoin [BTC] lived up to investors’ expectations last week by pumping its price well enough. However, the king coin started to consolidate over the past few days as it continued to move towards the $100k mark. Meanwhile, a crucial BTC metric turned bearish, hinting at a pullback.  Bitcoin investors are getting ‘GREEDY’ BTC managed to push its price by 8% last week. In fact, AMBCrypto reported earlier that this push allowed BTC to flip its $96k resistance into a new support, hinting at a further rise above $100k. Thanks to that, 53.24 million BTC addresses were in profit, which accounted for 98% of the total number of Bitcoin addresses.  Source: IntoTheBlock However, the coin started to consolidate in the last 24 hours as its daily chart turned red. At press time, the king coin was trading at $97.7k. While that happened, Ali Martrinez, a popular crypto analyst, posted a tweet revealing a notable development. As per the tweet, long-term BTC holders were showing signs of growing greed. Historically, this behavior suggests it could take 8-11 months for BTC to hit a market top. If this turns out to be true on this occasion, BTC reaching a market top might get delayed. To be precise, investors might see BTC reaching that level only by June or September 2025. Source: X Assessing BTC’s metrics To see whether the rising greed in the market will result in a correction, AMBCrypto assessed Glassnode’s data. After a sharp decline, Bitcoin’s NVT ratio started to rise again. This meant that BTC was getting overvalued, suggesting a price drop soon. Nonetheless, the market at large continued to remain optimistic on BTC.…

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Filed under: News - @ November 25, 2024 11:22 am