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

Ripple Prime Expands Institutional Trading with New Derivatives Access

Ripple Prime introduces access to perpetual derivatives referencing traditional assets for eligible institutional clients.

user avatarNguyen Van Long

Pirate Chain Developers Report Major Vulnerability

Pirate Chain developers disclosed a significant vulnerability leading to the creation of approximately 398 million unauthorized ARRR tokens, raising urgent questions about network supply and trust.

user avatarSatoshi Nakamura

Crypto King Aiden Pleterski Faces Criminal Charges Over Misuse of Investor Funds

A Canadian court hears evidence that Aiden Pleterski misused investor funds for personal expenses.

user avatarJesper Sørensen

BinanceUS Seeks $100 Million in Fundraising Round

BinanceUS is reportedly pursuing a $100 million fundraising round at a valuation of approximately $1 billion to strengthen its position in the American cryptocurrency market.

user avatarRajesh Kumar

Consulting Arrangement Raises Questions About Tether and Bo Hines

A reported $63 million consulting arrangement between Tether and Nxum, linked to former White House adviser Bo Hines, has sparked concerns over potential conflicts of interest.

user avatarLucas Weissmann

Arbitrum Engages European Financial Institutions on Blockchain Infrastructure

Arbitrum representatives presented the network's infrastructure and revenue model to European financial institutions managing substantial assets, discussing its commercial potential and the value of blockchain services.

user avatarFilippo Romano

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.