Tuesday saw an intraday high of $81,300 for Bitcoin (BTC), a 2.14% increase over the previous 24 hours. The 30-day gain is 21% and the weekly gain is 5% as a result of this.
According to statistics from CryptoQuant, long-term holders have acquired more than 330,000 BTC over the last month, which went along with this increase. As the price of Bitcoin soared beyond $81,000, long-term holders (LTHs)—defined as organizations that have held coins for six months or more without selling—increased their holdings.
Ongoing Positive Momentum Continues
According to CryptoQuant’s statistics, LTHs added 331,000 BTC to their holdings on a rolling 30-day basis, which is equivalent to over $26.7 billion at Tuesday’s market pricing. This amounts to about 1.6% of the overall supply, indicating that there has been an uptick in accumulation as the price has begun to rebound.
Strong inflows into US-based spot Bitcoin exchange-traded funds (ETFs) of $1.18 billion have been observed for three days in a row, coinciding with Bitcoin’s bullishness. Monday saw net inflows of $532 million into these investment instruments, indicating that institutional investors are showing a greater interest in Bitcoin. Bitcoin’s market sentiment is improving, and exchange-traded fund (ETF) flows have returned, according to crypto analyst Michael van de Poppe’s Tuesday X post.
According to the Bitcoin liquidation heatmap, there are millions of bid orders wedged between the current price and $84,600, and the price is eating away liquidity around about $80,000.
Given that it aligns with the CME gap that was developed in early February, the $84,000 region is being closely monitored by several traders. The price’s breakout over the upper limit at $77,500 has confirmed a bull flag on the daily chart, according to technical analysis.
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