Recent market analysis of Bitcoin indicates that despite current price fluctuations, long-term demand for the cryptocurrency remains stable, while short-term holders are under pressure.
Long-Term Demand Trends for Bitcoin
Analysis by CryptoQuant technical analysts indicates significant long-term demand for Bitcoin. Recent data shows that over 160,000 BTC were accumulated in the past 30 days, reflecting high interest from long-term investors. Data on accumulator addresses also supports this trend, as they added approximately 50,000 BTC to their holdings last month.
Signs of Stress Among Short-Term Holders
While long-term holders remain confident, short-term investors are facing challenges. Analysis shows that many have recorded losses, creating pressure on the market. The Net Unrealized Profit/Loss (NUPL) metric indicates that short-term holders are near breakeven, while long-term holders remain in profitable territory.
Bitcoin Projections Amid Market Uncertainty
Despite the current volatility, analysts believe that Bitcoin's recent decline is merely a correction in the market and does not indicate the end of the bull trend. Long-term structural changes in supply and strong demand from confident investors may support a positive trend moving forward.
Overall, the data suggest that Bitcoin remains in a solid position. Long-term holders are confident while short-term holders face pressures that create market tension, yet the overall direction remains optimistic.
