Bitcoin Long-Term Holders Stay Resilient, But Profits Haven’t Fully Arrived – Here’s What To Know
Bitcoin's price has struggled to break above the $90,000 level, leaving long-term holders without significant profits despite their resilience. These investors, holding 13.6 million BTC worth $1.2 trillion, are waiting for stronger gains, as the price remains below the $100,000 mark. Market analyst CW notes that their patience may soon shift if the market rebounds, potentially transferring holdings to short-term holders and signaling a cycle peak. Meanwhile, on-chain activity has slowed, with the Cumulative Volume Delta indicator showing a balance between buying and selling pressure, suggesting consolidation. A key resistance level is forming at $94,000, and without increased activity from large holders, the downward trend may continue.
bitcoinist12/22 20:01