The recent price surge of Bitcoin has ignited discussions regarding demand and supply in the cryptocurrency market. Expert Hunter Horsley shares his insights on the future of Bitcoin prices.
Price Level Assumptions for Bitcoin
According to Hunter Horsley, once Bitcoin reaches the price range of $130,000 to $150,000, many long-term holders are likely to stop selling. He emphasized that these participants acquired Bitcoin at substantially lower prices, and the recent price increase has provided an opportunity for profit-taking.
> "I think once Bitcoin breaks through eg $130-150k, no one is going to sell their Bitcoin. Right now at $100k, it seems individuals who hold a lot of Bitcoin that was bought a long time ago at very low prices, are selling some." — Hunter Horsley
Decreasing Supply of Bitcoin
Recent on-chain analytics have indicated a tightening supply of Bitcoin, characterized by lower short-term selling pressure and increasing investor confidence in holding the asset for the long term. Over the past year, more than 550,000 BTC have been withdrawn from centralized exchanges, indicating a trend toward private asset storage.
Market Dynamics and Institutional Investors
The growing interest from institutional investors plays a significant role in the decreasing supply of Bitcoin. U.S.-listed Bitcoin ETFs currently hold about 6% of the total BTC supply. Unlike retail traders, these institutional investors are not chasing short-term gains, suggesting that more Bitcoin may be taken out of circulation for the long term.
The observed market trends in Bitcoin and the increasing interest from institutional investors may establish new price benchmarks, while confidence in long-term holdings becomes more pronounced.
