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BITCOIN BULL RUN

End of Selling Spree: How Long-Term Holders Are Shaping Bitcoin’s Next Move?

Faisal Khan
Technicity
Published in
3 min readJan 23, 2025

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2024 has been a record-breaking year for Bitcoin and the broader crypto market. The cryptocurrency market reached a significant milestone, hitting a record 5.4% of the U.S. stock market cap. From a modest start in 2016, the crypto market has experienced several peaks and valleys, with notable surges in 2017 and 2021. And after a volatile beginning to the new year, the digital assets seem to be setting their stride. Bitcoin also seems to be hanging on the other milestone of reaching a $2 trillion market cap.

$100,000 Resistance Turns Support

A recent analysis of Bitcoin (BTC) holdings by long-term investors suggests a significant shift in strategy. Data from Glassnode (chart below) indicates that these “whales” have seemingly ceased their selling spree, a move that has played a crucial role in transforming the psychological $100,000 price resistance into a support level for the first time.

This development has sparked optimism within the crypto community, with some analysts…

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Technicity
Technicity

Published in Technicity

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Faisal Khan
Faisal Khan

Written by Faisal Khan

A devout futurist keeping a keen eye on the latest in Emerging Tech, Global Economy, Space, Science, Cryptocurrencies & more

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