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Bitcoin spent the last five days by trading in a relatively narrow range from USD 106 229 to USD 111 807, at the last highest level of $ 111,814. Despite the growth Selling pressure from miners After all time, Bitcoin price was accompanied by over USD 108,000, with a chain data showing Bitcoin Diamond Hands Creating all sales pressure.
Long -term owners accumulate with minimal expenses
According to data from the analytical platform on the Cryptochan chain, the binary indicator of long -term expenditure (LTH) has fallen to the lowest level from September 2024. This intriguing trend Initially noted On the social media platform x, Alex ADler Jr. cryptographic analyst.
The 15-day moving average of this record, as shown in the chart by Cryptoquant, fell to the minimum expenditure zone. In particular, this zone consistently precedes the more stubborn movement at the Bitcoin price.
In parallel, Long -term owner supply Over the past 20 days, it has increased by about 300,000 BTC. This means a deviation from the trend of declines in the long -term supply of the holder from 2024. At the time of writing 14.6 million BTC, which is about 74% of the total current BTC supply, is classified as long -term owners.
This pattern suggests that the so -called “diamond hands”, i.e. investors with forceful conviction, who maintain variability, are Not only refraining from Sales with the recent recent Bitcoin peak, but they are actively accumulating. The chart below shows a correlation between the minimum LTH expenditure and a growing price, behavior that also adapted to the Bitcoin growth phases in 2019, the end of 2020 and the end of 2024.
Why it is stubborn on the market
A significant augment in the long -term supply of owners, combined with minimal sales activity, reveals hidden strength on the market. The current behavior of long -term investors also indicates Trust in Bitcoin’s valuation At current levels, despite the recent price augment. Many of these long -term owners have significant profit, but they still decide to support. This is Unlike the brief -term holderS, who jointly completed profits worth over $ 11.6 billion Only in the last month.
Attracting in parallel with historical data, the current decline in long -term expenditure (LTH) reflects a similar formula observed in September 2024. At that time the LTH indicator was in a minimum zone, and the long -term supply of handles is constantly growing.
Then there was an unusual 96% augment in Bitcoin price, rising from around USD 54,000 to the peaks of around USD 106,000 in December and January. If the market were to exploit a similar trajectory from the current price level, a comparable 96% rally would be able to augment Bitcoin to a recent peak of nearly USD 212,000.
At the time of writing, Bitcoin trades for USD 109,000.
A distinguished picture from Getty Images, chart from TradingView.com
