Main takeout:
As BTC prices soared to $ 94,900, Bitcoin long -term holder Cohort increased $ 26 billion.
Short -term holders were sold in early April.
The 30% modification of the Bitcoin matches the historical cycle, and the BTC can be supported in the $ 88,750 and $ 91,000 districts.
As the BTC price surged from $ 74,450 to $ 94,900, Bitcoin (BTC) long -term owners (LTH) increased the group wealth in April. According to Cryptoquant’s data, the long -term holder (LTH) has a $ 26 billion profit, increasing from $ 345 billion to $ 371 billion between April 1 and April 23.
The rapid increase in LTH realized that the cap signal has been rewarded for elasticity through the recent shortcomings. Bitcoin experienced 30%+ modifications between January and early April, which is a pattern that matches the historical market cycle. According to the past cycle data in 2013, 2017 and 2021, after Bitcoin triggered the new all -time high, such destruction was everyday, and often waved weak hands before resuming the upward trend.
Other factors also emphasized LTH’s conviction during the revision. In the traditional market of Bitcoin, the investment appeal has been improved as the US stock faces pressure from the trade war. During the stock, the price of gold increased to $ 3,500, which is likely to increase the LTHS trust in Bitcoin’s value storage, reflecting investor demand for non -correlated assets.
Cointelegraph, meanwhile, reported that this week’s short -term holder (STHS) has returned to profit. Nevertheless, many people were sold in the midst of April and reflected the tendency to rotate the position under the market stress. This behavior reflects the repeated trend in 2024, where STH is often sold to LTH during modifications.
Bitcoin supply of the profitable market band shows a strong prospect after the total supply of the total interest is higher than the “threshold of optimism”. Currently, 16.7 million BTCs are gaining profits from various Bitcoin addresses.
According to the historical data of 2016, 2020 and 2024, BITCOIN frequently triggers significant bulls when they continue to hold these major optimistic areas, leading to a new high -end price within a few months.
Related: Bitcoin Exchange Leakage Memorial 2023
Bitcoin can build a new range between $ 95K and $ 90K.
Analysts expect Bitcoin to go through the waiting time for reuse after increasing to $ 94,900. MnCAPITAL founder Michael Van de Poppe mentioned that it is “quite normal to have some modifications.”
Similarly, Jelle, an anonymous password, pointed out that Bitcoin has tested the current daytime resistance and can lower the BTC to $ 91,000.
From a technical point of view, Bitcoin can integrate between $ 94,900 and $ 88,750. The recent price behavior has proposed a long -term cooldown after the breakout rally. In the four -hour chart, the main support area is between $ 90,500 and $ 88,750, indicating the difference in fair value.
Violations of less than this range can invalidate the optimistic structure of LTF (Lower Time Frame), which can potentially induce the price to the next support area between $ 84,000 to $ 86,300, and Bitcoin is integrated for a week before a positive escape.
Related: Bitcoin’s next big resistance is $ 95K. What causes brake out?
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.