Bitcoin has once again surged, reaching a record price of $118,000. However, the behavior of long-term holders indicates maturity and caution in the market.
New All-Time High Price of Bitcoin
According to recent analysis by Glassnode, Bitcoin has reached a new record of $118,000. This event demonstrates a departure from standard bullish cycles, indicating a growing maturity in the market.
Behavior of Bitcoin Holders
Despite achieving a new record, long-term holders are exhibiting restraint. Glassnode's data shows that the Net Unrealized Profit/Loss (NUPL) for long-term holders remains below the euphoria zone, indicating a more mature approach to investments. "Despite the price of BTC surpassing $118,000, the NUPL for long-term holders remains below the Euphoria Zone, currently at 0.69," state the experts from Glassnode.
Market Maturity and Institutional Investments
Data shows that the price of Bitcoin has oscillated between $100,000 and $110,000 in recent months amid steady demand from institutional investors. This activity aids in market stability, helping to avoid sharp fluctuations and speculative actions from holders.
The rise in Bitcoin prices and the cautious behavior of its holders signal a high level of market maturity, alongside a growing interest from institutional investors.
