Bitcoin Holders Cash in as Price Reaches $90,000

user avatar

by Giorgi Kostiuk

2 years ago

CryptoQuant analyst pointed out that some long-term Bitcoin holders have begun taking profits as the price passed the $90,000 mark. This was expected after a prolonged period of price consolidation.

Breaking the $90,000 Mark

According to CoinMarketCap, Bitcoin was trading at $89,945 at the time of publication. Upon reaching this mark, many investors who held the asset for over 155 days saw it as an opportunity for profit.

Long-term Prospects and Stock ETFs

The sell-side wave among long-term holders rose after pro-Bitcoin candidate Donald Trump's victory in the US elections. However, according to Percival, this has not significantly impacted the price as ETFs absorb the sold coins.

This wave of superficial sell-side supply is notable.

Expectations for Price Surge to $100,000

Support for reaching $100,000 by year-end is growing. Notable figures like Michael Saylor from MicroStrategy are already discussing the possibility of surpassing this price.

Thus, while some investors have already booked profits, the desire to reach $100,000 among others demonstrates Bitcoin's long-term growth potential.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

French Lawmakers Approve Amendment on Crypto Taxation

French lawmakers have approved an amendment to the 2027 budget that changes the taxation of gains when converting cryptocurrencies to stablecoins.

user avatarDavid Robinson

US Spot Ethereum ETFs Face Major Withdrawals Amid Market Shifts

US spot Ethereum ETFs faced net withdrawals of $3.201 billion in mid-October, surpassing Bitcoin fund withdrawals.

user avatarAndrew Smith

Richard Heart Detained in Istanbul Linked to Finnish Tax Investigation

Richard Heart, founder of HEX and PulseChain, has been detained by Turkish authorities in connection with a Finnish tax investigation.

user avatarJacob Williams

TD Cowen Increases Strive's Share Price Target Amid Bitcoin Holdings Surge

TD Cowen analysts raised Strive's share price target from 44 to 56 due to significant expansion of Bitcoin holdings to 35,595 BTC, noted in a research update on October 16.

user avatarZainab Kamara

Tether Invests in AI Infrastructure Startup AIsa

Tether has invested in AI infrastructure startup AIsa, contributing to its total funding of over $9 million to support autonomous AI applications.

user avatarSon Min-ho

Taiwan Restricts Access to Coinbase and Kalshi Ahead of Elections

Taiwanese authorities have restricted access to Coinbase and Kalshi websites due to concerns over election betting.

user avatarTando Nkube

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.