As Bitcoin price continues to gain upward momentumThe chain data has revealed that Bitcoin’s long -term holders are starting to sell assets. Historically, similar market behaviors match the top of the 2021 Burecycle market, raising a matter of whether the pioneer’s cryptocurrency is finally approaching. Market peak。
Is the market ahead of Bitcoin long -term holders and the market is going ahead?
Bitcoin prices are strongly bullish. Donald Trump’s victory In the US presidential election. BTC, until the previous $ 100,000 to ATH Sudden increase in accumulationMost whales choose to hold it instead of selling it.
but, On -fin data I revealed that a long -term bitcoin holder has begun Asset off -road。 According to the famous Crypto analyst Ali Martinez, this unexpected sale by long -term holders often match the top of the market.
The chart shared by Martinez on X (previous Twitter) indicates a change in Bitcoin Long -term holder net position。 The green space indicates that long -term holders accumulate BTCs and increase net positions. On the other hand, red areas indicate that these holders have sold out shares and reduced pure positions.
Martinez pointed out that as BTC approaches the top of the market, long -term holders tend to distribute their ownership. This observation result is backed by the actions inside. Bitcoin Bull will be executed in 2021。
Between 2017 and 2021, the largest red (sale) area occurred immediately after the Bitcoin eventually increased to the highest ever (ATH). After this rapid increase, BTC experienced significant price corrections and informed the end of the market and the end of Burrun.
The recent red area in the chart is for a long -term bitcoin holder Sell their own things again。 If the historical trends are repeated, the current sale may indicate that the BTC is approaching the peak. However, the last upward rally may continue to occur.
The past trends cannot guarantee the results of the future, but provide insights on potential market movements. Bitcoin has grown rapidly and has increased rapidly over $ 100,000, so you can see the top of the market immediately.
BTC hits a new ATH, what is next?
Recently, bitcoin Achievement A new ATH that rapidly increases the past resistance level and reaches $ 106,260. The price of CryptoCurrency exceeded 4.8 % a day, increasing the discussion and excitement in the cryptographic community. in spite of Acquire a new ass, Later, the BTC was corrected to $ 105,013 at the time of writing.
I also have the Crypto analyst captain FAIBIK Expression The excitement of the new ass provides a more bullish outlook on the pioneer’s cryptocurrency. According to FAIBIK, the upside breakout of the triangle of Bitcoin has been officially confirmed in the daily time frame. Continuation of uptrends。
Analysts predict that Bitcoin can restore the support level, but hopes that cryptocurrencies will begin to increase their next bullish. As a result, Fabiku set him Next BTC target By the end of 2024, $ 113,000 to $ 115,000.
Special image created in Dall.e, chart of TradingView.com