Long-Term Bitcoin Holders Remain Greedy Amid Price Break Toward $100,000, Why This Is Good

Quick Summary:

This underscores Bitcoin’s remarkable performance this month, as most long-term holders acquired their holdings at prices lower than BTC’s current market valuation.  Popular crypto analyst Ali Martinez noted in an X (formerly Twitter) post that historically, a growing increase in Bitcoin long-term holders’ greed suggests the potential for an imminent price leap to new highs.

A crypto analyst has underscored the significance of this market trend, highlighting that a possible Bitcoin market top could be incoming in the next few months.  Long-Term Holders Stay Greedy On-chain data from Glassnode reveal that long-term Bitcoin holders are showing a significant level of greed, which continues to intensify as the price of BTC maintains its bullish trajectory.

Based on his price chart, Bitcoin long-term holders showed extreme levels of greed during the previous bull markets that followed the cyclic halving events.  The steady increase in long-term holders’ greed can be taken as a good sign, as this suggests that fewer coins are in circulation or available for trading, ultimately creating scarcity.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Crypto analyst Bitcoin price Bitcoin Btc price Crypto BTCUSDT Analyst Btcusd BTC news Crypto news Btc Bitcoin Bitcoin news

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-25 @ 21:30:12 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 458 words

Reading Time: 3 minutes read

Sentences: 64 lines

Sentence Length: 8 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 23853885

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