As Bitcoin pushes toward new highs, market participants turn their attention to future movements. Bitwise CEO Hunter Horsley shares his thoughts on potential shifts in holder behavior.
Shift in Bitcoin Holder Tactics
Hunter Horsley noted that once Bitcoin breaks through the $130,000 to $150,000 range, long-term holder behavior may change. Currently, holders continue to sell portions of their assets, but Horsley predicts that this trend will shift towards borrowing against Bitcoin. This change would tighten supply and lead to higher prices. "There’s simply not going to be enough Bitcoin," he added.
Rising Optimism Among Retail Investors
Meanwhile, Bitcoin's recovery has prompted a surge in bullish sentiment among retail investors who have mostly been absent. A recent update from Santiment found that positive Bitcoin-related commentary on social media now outnumbers negative mentions by more than two-to-one, a level of optimism not seen since Donald Trump's election.
Market Analysis and Bitcoin Price Predictions
Analysts caution that rising greed and enthusiasm among retail investors may indicate a market top, supported by a Fear and Greed Index score of 71. Long-term holders are still accumulating while taking profits nearing $930 million. Whales remain patient, anticipating higher prices amid U.S. debt ceiling instability.
In the coming months, the Bitcoin market may experience changes in investor behavior. Expectations of rising prices and tightening supply may create a new dynamic.
