Bitcoin News: Massive Accumulation by Long-Term Holders Could Send BTC to $85K
The post Bitcoin News: Massive Accumulation by Long-Term Holders Could Send BTC to $85K appeared on BitcoinEthereumNews.com.
Bitcoin’s 12% recovery in 3 days has reignited bullish sentiment, with long-term holders driving fresh accumulation. Positive shift in Long-Term Holder Net Position marks renewed market conviction, hinting at a potential BTC rally. Bitcoin once again been under the spotlight with recovery of 12% in just last 3 days. Investors are now again showing interest in the Bitcoin bullish outlook ahead. Thereby, Bitcoin whales lead the charge to holding BTC with most of them holds over 155 days or more. These holders are looking for even more accumulation amid Bitcoin’s positive outlook. Accumulation activity has triggered new hope in the broader crypto market. Since April 6, Bitcoin’s Long-Term Holder Net Position Change turned positive for the first time in six months. This is the evidence that BTC holders are not just holding but also buying more, and all these activities potentially signal a bullish Bitcoin outlook. Source: CryptoQuant Burak Kesmeci, an analyst from CryptoQuant, pointed out that this specific metric had been negative since late October. It marked months of distribution and doubt. That stretch of selling hit rock bottom on December 5, slashing the coin’s price by 32%. But now, according to Kesmeci, the wind is changing. “While it’s too early to say definitively, the growing positive momentum in this metric could be a sign that long-term conviction is returning to the market,” said Burak. BTC Breaks Above $81,800 This renewed conviction isn’t just theory—it’s already showing results. The surge in long-term holders accumulating BTC has pushed the price over a key level of $81,800. At the time of writing, Bitcoin is trading at $84,500, marking a 2% gain in the last 24 hours. That price push aligns closely with the timing of increased LTH accumulation. It also means a 12% increase since the accumulation began. Source: TradignView Another…
Filed under: News - @ April 13, 2025 12:14 pm