Value

Bitcoin

Notable

Billion

Rekt

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/long-term-bitcoin-holders-reach-10-billion-milestone-2/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Long-Term Bitcoin Holders Reach $10 Billion Milestone</a> 
Long-term <a href="https://en.coin-turk.com/bitcoin-analyst-predicts-potential-upside-movement-as-btc-consolidates/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> holders have reached a total capital of $10 billion, marking a significant milestone, and have refrained from selling as the Bitcoin price has declined from its all-time highs in 2021. Amr Taha from the CryptoQuant team announced on August 27 that the capital of long-term holders surpassed $10 billion for the first time.
<h2 class="p1" style="text-align: justify" id="notable-data-for-bitcoin">Notable Data for Bitcoin</h2>
The realized cap takes into account the price at which each Bitcoin was last sold. According to blockchain <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data analysis</a> firm Bitbo, the realized cap is often compared with the Market Value to understand the overall market sentiment.
Long-term holders are defined as investors who have held Bitcoin for more than 155 days. Taha explained that once holders surpass the 155-day mark, the likelihood of selling significantly decreases, meaning these holders are less likely to sell during short-term market fluctuations.
Another contributor to CryptoQuant, Axel Adler, stated on August 27 that since Bitcoin started its 29-day trading series below $69,000 on July 30, the selling pressure from long-term holders has decreased by 3.7 times. Bitcoin is currently trading at $59,404, down 5.47% in the last 24 hours. According to CoinMarketCap, after reaching a peak of $64,791, it has experienced a slight weekly decline of 0.11%.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-383775 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/cmc-5.webp" alt="" width="1599" height="826">
<h2 class="p1" style="text-align: justify" id="details-on-the-subject">Details on the Subject</h2>
According to ChainExposed data, the current price is approximately 8% lower than the amount an average long-term Bitcoin holder paid for Bitcoin, which is $64,490. However, crypto investors believe the price could drop further, forcing long-term holders to hold even longer while waiting for better profit opportunities. Rekt Capital shared the following statement on the subject:
<blockquote>
 “Bitcoin will pull back deep enough to convince you that the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">bull market</a> is over.”
</blockquote>
Many investors see $50,000 as a critical support level, and if this level is broken, it could push Bitcoin into an uncertainty zone. This comes after a report published by Glassnode in June found that approximately three-quarters of all circulating Bitcoin had not been moved for the last six months or longer.
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/long-term-bitcoin-holders-reach-10-billion-milestone-2/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Long-Term Bitcoin Holders Reach $10 Billion Milestone</a></h5>
The post <a href="https://en.coin-turk.com/long-term-bitcoin-holders-reach-10-billion-milestone-2/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Long-Term Bitcoin Holders Reach $10 Billion Milestone</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Long-Term Bitcoin Holders Reach $10 Billion Milestone

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