- Bitcoin nears record highs, just 1.8% away from its previous ATH, signaling strong bullish momentum.
- Increased accumulation by long-term holders and rising whale transactions suggest potential for a further rally.
Bitcoin [BTC] has continued its impressive climb, now just a 1.8% decrease away from its all-time high (ATH) of $73,737 reached in March 2024.
Trading above $72,000 at press time, BTC has posted a nearly 10% increase over the past week and is up by 0.2% in the past day. This consistent upward trend reflects renewed investor confidence, bolstered by metrics signaling strength in Bitcoin’s fundamentals.
Additionally, this recent price rally appears to be largely driven by long-term holders (LTH) who are actively accumulating Bitcoin, as highlighted by CryptoQuant analyst Darkfost.
Whales accumulate like never before
According to the CryptoQuant analyst, the LTH 30-Day Net Position Change—a metric that tracks the monthly growth or reduction of Bitcoin held by long-term holders—shows that, despite BTC nearing its ATH, there’s only a slight dip in net position change.
Source: CryptoQuant
Darkfost explains that this minor dip in net position change is “approximately 2.5 times smaller than the reduction seen at the previous ATH,” indicating that the current sell-off is more measured.
This trend suggests that long-term holders are displaying confidence in Bitcoin’s short-term potential by holding rather than selling.
In addition to activity from long-term holders, Bitcoin is witnessing heightened interest from major investors, often known as “whales.” Data from IntoTheBlock indicates that whale transactions have seen a noticeable increase, rising from 15,000 transactions last week to over 20,000 as of press time.
Source: IntoTheBlock
Such a spike in whale transactions generally points to substantial interest in Bitcoin from large investors, who may be positioning themselves for further price gains.
In crypto markets, whale activity can drive significant price shifts, as their substantial holdings have the potential to influence supply and demand dynamics.
Positive indicators align as Bitcoin approaches key price milestone
Another key indicator of strong investor sentiment is Bitcoin’s open interest, which measures the total number of outstanding derivative contracts tied to the asset.
Data from Coinglass reveals that BTC’s open interest has seen a slight rise, increasing by 0.33% to reach a valuation of $43.59 billion.
Source: Coinglass
However, Bitcoin’s open interest volume has shown a contrasting trend, with a decrease of 37.63% to a valuation of $56.13 billion.
A rise in open interest generally signals that traders are actively engaging with the asset, while a dip in volume could indicate caution among some investors, possibly waiting for additional price signals before making substantial trades.
The convergence of these factors—long-term holder accumulation, heightened whale interest, and increased open interest—has set a favorable backdrop for Bitcoin’s continued upward momentum.
Read Bitcoin’s [BTC] Price Prediction 2024–2025
Long-term holders showing resilience and holding back on selling at near ATH levels suggests a prevailing sentiment of optimism within the Bitcoin community.
Darkfost concludes that this cautious but steady accumulation by long-term holders could pave the way for a potential rally in the near future.
- Bitcoin nears record highs, just 1.8% away from its previous ATH, signaling strong bullish momentum.
- Increased accumulation by long-term holders and rising whale transactions suggest potential for a further rally.
Bitcoin [BTC] has continued its impressive climb, now just a 1.8% decrease away from its all-time high (ATH) of $73,737 reached in March 2024.
Trading above $72,000 at press time, BTC has posted a nearly 10% increase over the past week and is up by 0.2% in the past day. This consistent upward trend reflects renewed investor confidence, bolstered by metrics signaling strength in Bitcoin’s fundamentals.
Additionally, this recent price rally appears to be largely driven by long-term holders (LTH) who are actively accumulating Bitcoin, as highlighted by CryptoQuant analyst Darkfost.
Whales accumulate like never before
According to the CryptoQuant analyst, the LTH 30-Day Net Position Change—a metric that tracks the monthly growth or reduction of Bitcoin held by long-term holders—shows that, despite BTC nearing its ATH, there’s only a slight dip in net position change.
Source: CryptoQuant
Darkfost explains that this minor dip in net position change is “approximately 2.5 times smaller than the reduction seen at the previous ATH,” indicating that the current sell-off is more measured.
This trend suggests that long-term holders are displaying confidence in Bitcoin’s short-term potential by holding rather than selling.
In addition to activity from long-term holders, Bitcoin is witnessing heightened interest from major investors, often known as “whales.” Data from IntoTheBlock indicates that whale transactions have seen a noticeable increase, rising from 15,000 transactions last week to over 20,000 as of press time.
Source: IntoTheBlock
Such a spike in whale transactions generally points to substantial interest in Bitcoin from large investors, who may be positioning themselves for further price gains.
In crypto markets, whale activity can drive significant price shifts, as their substantial holdings have the potential to influence supply and demand dynamics.
Positive indicators align as Bitcoin approaches key price milestone
Another key indicator of strong investor sentiment is Bitcoin’s open interest, which measures the total number of outstanding derivative contracts tied to the asset.
Data from Coinglass reveals that BTC’s open interest has seen a slight rise, increasing by 0.33% to reach a valuation of $43.59 billion.
Source: Coinglass
However, Bitcoin’s open interest volume has shown a contrasting trend, with a decrease of 37.63% to a valuation of $56.13 billion.
A rise in open interest generally signals that traders are actively engaging with the asset, while a dip in volume could indicate caution among some investors, possibly waiting for additional price signals before making substantial trades.
The convergence of these factors—long-term holder accumulation, heightened whale interest, and increased open interest—has set a favorable backdrop for Bitcoin’s continued upward momentum.
Read Bitcoin’s [BTC] Price Prediction 2024–2025
Long-term holders showing resilience and holding back on selling at near ATH levels suggests a prevailing sentiment of optimism within the Bitcoin community.
Darkfost concludes that this cautious but steady accumulation by long-term holders could pave the way for a potential rally in the near future.
cheap clomiphene prices how to get cheap clomiphene without dr prescription where can i get cheap clomid tablets how to buy generic clomid price how to get clomid no prescription how to buy generic clomid without prescription get clomid online
The thoroughness in this draft is noteworthy.
The depth in this tune is exceptional.
order azithromycin 500mg online cheap – buy tetracycline 500mg without prescription order generic metronidazole 400mg
rybelsus price – cyproheptadine 4mg us periactin 4mg canada
where can i buy domperidone – buy motilium 10mg for sale generic cyclobenzaprine 15mg
inderal 10mg cost – clopidogrel 75mg ca buy methotrexate pill
buy nexium cheap – anexa mate order esomeprazole 40mg generic
buy coumadin 2mg pill – coumamide buy cheap generic losartan
buy meloxicam without prescription – https://moboxsin.com/ buy meloxicam 15mg generic
prednisone 40mg brand – https://apreplson.com/ brand prednisone 5mg
buy generic ed pills – site buy erectile dysfunction pills
cheap amoxicillin without prescription – amoxicillin ca amoxicillin cheap
buy diflucan 200mg online – this cost diflucan 100mg
lexapro over the counter – how to get escitalopram without a prescription purchase escitalopram without prescription
buy generic cenforce 50mg – cenforce medication cenforce cheap
cialis max dose – https://ciltadgn.com/# cialis for sale brand
order generic cialis online 20 mg 20 pills – https://strongtadafl.com/ can cialis cause high blood pressure
ranitidine generic – https://aranitidine.com/# cost zantac 150mg
generic sildenafil 50mg – site viagra 50mg cost
Thanks for putting this up. It’s understandably done. site
This is the kind of topic I enjoy reading. prednisone without rx
More posts like this would create the online elbow-room more useful. https://ursxdol.com/synthroid-available-online/
Facts blog you have here.. It’s obdurate to assign strong status writing like yours these days. I justifiably respect individuals like you! Take mindfulness!! https://prohnrg.com/product/metoprolol-25-mg-tablets/
This is the big-hearted of scribble literary works I positively appreciate. https://aranitidine.com/fr/viagra-professional-100-mg/
This website positively has all of the information and facts I needed to this participant and didn’t comprehend who to ask. https://ondactone.com/product/domperidone/
This website positively has all of the information and facts I needed about this subject and didn’t identify who to ask.
https://proisotrepl.com/product/methotrexate/
More posts like this would force the blogosphere more useful. http://maps.google.mn/url?q=https://issuu.com/swedena/docs/11.docx
This is the tolerant of post I unearth helpful. http://zqykj.com/bbs/home.php?mod=space&uid=302439
dapagliflozin 10 mg us – https://janozin.com/# order generic dapagliflozin 10 mg
xenical cost – https://asacostat.com/ order xenical sale