Long-Term Bitcoin Holders Are Buying Again After Sell-Off

Wednesday, 22 May 2024, 08:12
The post highlights how on-chain metrics reveal long-term Bitcoin holders are accumulating more BTC despite recent market corrections. Realized Cap and Profits showcase profitable positions for holders, driving price fluctuations. By observing supply-demand dynamics and holder behaviors, insights into Bitcoin's potential upward trajectory emerge.
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Long-Term Bitcoin Holders Are Buying Again After Sell-Off

Bitcoin Holders Increase Accumulation Amid Market Correction

The basic laws of supply and demand dictate Bitcoin's price movements. When supply exceeds demand, prices fall, and vice versa. Recent data indicates a price drop below $57,000 as long-term holders demonstrate confidence by accumulating BTC.

Insights from On-Chain Metrics

  • Realized Cap: Value of all BTC based on last movement price
  • Realized Profits: Actual gains for BTC holders

Long-term holders adding over 70,000 BTC since May reveal resilience amid short-term concerns.

Shifts in Supply-Demand Trends

  • Long-Term Holder Net Position Change: Reflecting accumulation behavior
  • Balance on Exchanges: Movement of BTC to private wallets

Despise corrections, rising demand signals potential upward trends as holders exhibit confidence in Bitcoin's long-term value.

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