In recent development, a cryptographic analyst Ali Martinez revealed that long -term Bitcoin owners officially entered the territory of greed. This can bring price benefits in a brief period, although long -term consequences can be grave. The greed phase suggests that long -term Bitcoin owners are currently overly bullish about the future BTC trajectory.

Long -term Bitcoin owners officially enter the territory of greed

In Post XMartinez stated that long -term owners of Bitcoin, after the experience of each development phase market cycleThey allow you to take control now. When it comes to market moods, the owners of the campaign have gone from capitulation to hope, optimism, and then faith and are currently in a phase of greed.

This excessive optimism usually leads these investors to impulsive accumulation of more BTC, without taking into account rational analyzes. In the brief period This phase of greed It is bull for Bitcoin, because such moods on the market can cause more purchasing pressure and cause an raise in the flagship cryptocurrency.

This Bitcoin shopping pressure seems to be obvious when the Santiment analytical platform revealed that the number of portfolios containing from 100 to 1000 BTC exceeded the highest level in history (ATH), increasing to 15,777 wallets. The platform also mentioned it Bitcoin whales He reached the peak this week along with the inauguration in the USA and the modern ATH BTC, when transactions exceeding $ 100.00 increased to the highest level for six weeks.

This phase of greed is good for the BTC price, because it can continue to send the flagship cryptocurrency to modern maxima. However, in the long run, this excessive optimism can drive BTC purchased territoryWhich ultimately caused a huge wave of sales that caused a decrease in the price of Bitcoin.

It seems that this phase of greed among long-term Bitcoin owners is caused by optimism around the pro-criminal administration of Donald Trump I BTC strategic reserve especially. This still creates a risk for the price of Bitcoin, because the flagship cryptocurrency can be recorded much above its actual value if the BTC reserve is not created ultimately.

What must happen for BTC to remain upward

In another post X, Ali Martinez He warned that the price of Bitcoin must last above $ 97,530 to maintain growth. According to him, this price level is a key level of support that is worth paying attention to for BTC, because sticking above it is crucial to maintain the current upward trend. Bitcoin is currently consolidating around this range after he reached a modern ATH at the level of $ 109,000 at the beginning of this week.

Meanwhile, a cryptocurrency analyst Crypto-pad He emphasized the support area of ​​$ 102,000 as the most significant currently for the BTC price. The attached chart showed that the flagship cryptocurrency can fall up to $ 98,000 if it falls below this level of support.

According to Coinmarketcap data, at the time of writing this text, the price of Bitcoin is around $ 104,900, which means an raise of over 2% in the last 24 hours.

A distinguished picture from Unsplash, chart from tradingview.com