Long

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<p>The post <a href="https://coinpedia.org/news/bitcoin-price-drop-could-long-term-holders-be-setting-up-for-a-surge/">Bitcoin Price Drop: Could Long-Term Holders Be Setting Up for a Surge?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Is Bitcoin set for a big move? There are reasons to assume that BTC would experience a strong momentum in the near future. With the price of $59,422.70, it may not be fair to intercept that this cryptocurrency is in a comfortable position. But, some factors do give hope. One such factor is the presence of long-term holders. Here is what you should know about this!</p> 
<h2 class="wp-block-heading" id="h-long-term-holders-dominance-in-the-btc-market">Long-Term Holders’ Dominance in the BTC Market&nbsp;</h2> 
<p>Rightnow, the long-term holders in the Bitcoin market hold at least 14.82 million Bitcoins.&nbsp;</p> 
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   <p lang="en" dir="ltr">In the past 30 days, Long Term Holders supply increased by 262,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>.<br><br>They now control 14.82 million Bitcoin, which accounts for 75% of the total supply. <a href="https://t.co/MfUWjRNuar">pic.twitter.com/MfUWjRNuar</a></p>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1828521383153824127?ref_src=twsrc%5Etfw">August 27, 2024</a>
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<p>What it means is nothing complex: at least 75% of the total number of BTC in existence is controlled by these holders at present. As per a latest post published in X by CryptoQuant, in the last 30 days, the long-term Bitcoin holders have added at least 262,000 BTC to their BTC holdings.&nbsp;</p> 
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 <img decoding="async" width="900" height="506" src="https://image.coinpedia.org/wp-content/uploads/2024/08/28125027/image-505.png" alt="" class="wp-image-343579" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/28125027/image-505.png 900w, https://image.coinpedia.org/wp-content/uploads/2024/08/28125027/image-505-300x169.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/28125027/image-505-768x432.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/28125027/image-505-390x220.png 390w, https://image.coinpedia.org/wp-content/uploads/2024/08/28125027/image-505-150x84.png 150w" sizes="(max-width: 900px) 100vw, 900px">
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<p>The above given chart shows the total change in the amount of Bitcoin held by long-term holders over the last 30-days. The chart justifies the observation published in the past that at least 262,000 BTC has been added to the holdings of the long-term holders in the BTC market in the last 30-days alone.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-bitcoin-market-general-overview">Bitcoin Market General Overview</h2> 
<p>At present, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> stands at $59,451.24. In the last 30-days, it has marked a fall of at least 14.4%. At the beginning of this month, the BTC price was over $65,216. In the following days, it saw a sharp drop. On 5th Aug, it registered a monthly low of $53,987. On that day, the 24-hour volume of BTC recorded a monthly peak of $435.756M. On Aug 8, a strong green candlestick was formed, but the corresponding volume was just $225.652M. In the following days, the market was moving sideways, in the range between a low of 457,612 and a high of $64,230. </p> 
<p>At present, the trend is not favourable. Yesterday, the market formed a red candlestick. Today, from the opening price of $62,734, the price is strongly falling. In the last 24-hours alone, the price has dropped 5.9%.&nbsp;</p> 
<p>We can conclude this way. At present, the Bitcoin market has less emotional holders, as it is dominated by its long-term holders. So, the possibility for the occurrence of a sharp fall in the BTC price is less. As the foundation of the BTC remains strong, there is a high possibility for a strop upward momentum.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/why-crypto-market-is-down-today-key-factors-driving-319-million-liquidation/" target="_blank" rel="noreferrer noopener">Why Crypto Market is Down Today? Key Factors Driving $319 Million Liquidation</a></p>

Bitcoin Price Drop: Could Long-Term Holders Be Setting Up for a Surge?

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