Accumulate

bullish

Value

Bitcoin

Rise

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin [BTC] is nearing its all-time high (ATH), with a strong bullish momentum and increased accumulation by long-term holders.</li> 
 <li>Whale transactions are also on the rise, suggesting potential for a further rally.</li> 
</ul>  
<p>Bitcoin [BTC] is on a steady climb, now just a 1.8% decrease away from its all-time high (ATH) of $73,737 reached in March 2024. </p> 
<p> Currently trading above $72,000, BTC has seen a nearly 10% increase over the past week and is up by 0.2% in the past day. </p> 
<h2 id="long-term-holders-accumulate-btc">Long-term Holders Accumulate BTC</h2> 
<p>This upward trend is indicative of renewed investor confidence, supported by metrics indicating strength in Bitcoin’s fundamentals. </p> 
<p> Long-term holders (LTH) are actively accumulating Bitcoin, as pointed out by CryptoQuant analyst Darkfost. </p> 
<p>The LTH 30-Day Net Position Change, a metric that tracks the monthly growth or reduction of Bitcoin held by long-term holders, shows only a slight dip in net position change despite BTC nearing its ATH. </p> 
<p> According to Darkfost, this minor dip is “approximately 2.5 times smaller than the reduction seen at the previous ATH,” indicating that the current sell-off is more measured. </p> 
<h2 id="whale-transactions-on-the-rise">Whale Transactions on the Rise</h2> 
<p>In addition to long-term holders, Bitcoin is seeing increased interest from major investors, or “whales.” </p> 
<p> Data from IntoTheBlock shows that whale transactions have increased from 15,000 transactions last week to over 20,000 as of press time. </p> 
<p> This substantial increase suggests that large investors are preparing for further price gains. </p> 
<p>BTC’s open interest, the total number of outstanding derivative contracts tied to the asset, has seen a slight rise, increasing by 0.33% to reach a valuation of $43.59 billion. </p> 
<p> However, Bitcoin’s open interest volume has shown a contrasting trend, with a decrease of 37.63% to a valuation of $56.13 billion. </p> 
<p>These factors—long-term holder accumulation, heightened whale interest, and increased open interest—indicate a favorable environment for Bitcoin’s continued upward momentum. </p> 
<p> Long-term holders are showing resilience and holding back on selling at near ATH levels, suggesting a prevailing sentiment of optimism within the Bitcoin community. </p> 
<p> Darkfost concludes that this cautious but steady accumulation by long-term holders could pave the way for a potential rally in the near future.</p>

Bitcoin Nearing Peak Value as Long-Term Holders Accumulate: A Positive Signal for BTC?

Table of Contents

CoinEagle.com

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