In recent weeks, a notable change in the activity of long-term Bitcoin holders has been observed, who have accumulated a significant amount of BTC, potentially indicating market shifts.
Activity of Long-term Bitcoin Holders
According to CryptoQuant data, long-term Bitcoin holders added over 880,000 BTC to their wallets in the past month, marking a significant change after a prolonged distribution phase. Currently, Bitcoin is trading just below $105,000 amid high market volatility and increased trading volume.
Growing Investor Confidence
The recent accumulation spike is the most significant since the 2021 bull market. Long-term holders, who had been reducing exposure previously, are now entering accumulation mode, suggesting the potential start of a new price cycle. Historical data indicates that such accumulation phases often preceded substantial price increases for Bitcoin.
Short-term Bitcoin Correction
As of now, Bitcoin is trading at $104,658, down 2.43% over the last 24 hours. Prices fell after failing to reclaim the $107,500 level on June 12. Market trading volume reached $71 billion, which is 33% higher than the previous day.
The situation in the Bitcoin market continues to evolve, with active accumulation by long-term holders and a short-term price correction. This period could herald significant changes in the future.
