Long

2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/bitcoin-price-crash-are-long-term-holders-secretly-preparing-for-a-major-breakout/">Bitcoin Price Crash: Are Long-Term Holders Secretly Preparing for a Major Breakout?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin has <a href="https://coinpedia.org/news/bitcoin-btc-price-drop-is-60k-the-new-target-as-bearish-pressure-mounts/">recently experienced</a> a significant drop, with its current trading price at $66,568. This decline is partly due to many investors selling their Bitcoin to capitalize on rising values, resulting in a noticeable dip. However, skepticism in the market is growing, and many investors doubt Bitcoin’s potential for a bull run, with some even lowering their expectations.</p> 
<h2 class="wp-block-heading" id="h-long-term-holders-selling-btc">Long Term Holders Selling BTC</h2> 
<p>According to Kyledoops, Bitcoin bull markets typically increase sell-side pressure as long-term holders cash in on higher prices. In March and April, many investors sold their Bitcoin to take advantage of rising values, leading to a noticeable dip in the supply of Bitcoin last active for over one and two years.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> bull markets increase sell-side pressure, tempting long-term holders to cash in at higher prices. <br><br>This pattern is evident from the dip in the Supply Last Active 1y+ and 2y+ metrics in March and April. <br><br>Recently, the slowdown in this decline hints at a return to HODLing… <a href="https://t.co/IcWEHMuZrW">pic.twitter.com/IcWEHMuZrW</a></p>— Kyledoops (@kyledoops) <a href="https://twitter.com/kyledoops/status/1818209955356225797?ref_src=twsrc%5Etfw">July 30, 2024</a>
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<p>Recently, however, this trend has slowed, suggesting that more investors are now choosing to hold onto their Bitcoin rather than sell. This change suggests that <a href="https://coinpedia.org/news/bitcoin-nears-70000-is-a-massive-drop-coming-as-traders-bet-against-it/">Bitcoin holders</a> are now more inclined to keep their assets rather than sell, possibly in anticipation of further price increases or to avoid potential losses from market volatility.</p> 
<p>Overall, it appears that while some investors took advantage of rising prices to sell their holdings, others are now choosing to hold onto their Bitcoin, expecting future gains.</p> 
<h2 class="wp-block-heading" id="h-analyst-predicts-major-breakout">Analyst Predicts Major Breakout</h2> 
<p>Despite the current bearish sentiment, crypto analyst Jelle believes that the tide could be about to turn. According to Jelle, exchange-traded funds (ETFs) have been aggressively accumulating Bitcoin, reflecting strong institutional interest. This increased accumulation, coupled with chart patterns that are showing signs of readiness to break out, points to a potential surge in Bitcoin’s price.</p> 
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   <p lang="en" dir="ltr">After months of chop, more and more people have stopped believing in the bull market — or have adjusted their targets lower.<br><br>Pretty sure they're in for a surprise.<br><br>ETFs keep accumulating coins like madmen, and the charts look ready to pop higher.<br><br>Stick to the plan! <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/Bc7GawNHlk">pic.twitter.com/Bc7GawNHlk</a></p>— Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1818219267889766822?ref_src=twsrc%5Etfw">July 30, 2024</a>
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<p>Jelle’s analysis reveals that Bitcoin is moving within a pattern known as a descending broadening wedge channel. This pattern often signals that a big price move is on the horizon.&nbsp;</p> 
<p>If Bitcoin breaks out of this pattern, it could lead to a dramatic rise in its price, potentially reaching new all-time highs.</p>

Bitcoin Price Crash: Are Long-Term Holders Secretly Preparing for a Major Breakout?

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