Bitcoin is moving sideways, posting drab price action, forcing participation to taper. But amid this consolidation and even fear of more losses, one analyst has shared data suggesting that long-term holders are accumulating at spot rates. Are We Back To 2021? Bitcoin Long-Term Holders Accumulating In a post on X, the analyst noted that this re-accumulating pace is picking up momentum, mirroring a welcomed trend that preceded the impressive 2021 bull run. Therefore, if long-term holders, or HODLers, accumulate, the probability of BTC rallying in the sessions ahead is elevated. Thus far, BTC has been trending above $60,000, up 10% from the May 2024 lows. For clarity, the data shared by the analyst uses Unspent Transaction Outputs (UTXOs) to classify long-term and short-term holders. Analyzing the age of UTXOs makes it easier to gauge the behavior of different investor groups. Related Reading: Analyst Predicts Injective (INJ) Breakout: $50 Price Range On The Horizon Usually, UTXOs older than 155 days have “diamond hands” or long-term holders. Meanwhile, those who hold BTC for less than 155 days are short-term holders or often classified as “weak” hands. They a ..
Support the originator by clicking the read the rest link below.
