Bitcoin Long-Term Holders Set Record with Massive BTC Accumulation
- Long-term holders increased their Bitcoin supply by a record-breaking net of 800,000 BTC over the past month.
- This level of increase has only occurred six times in Bitcoin’s history, with previous instances leading to price spikes.
- The cost basis for coins entering the long-term holder category ranges between $95,000 and $107,000.
- Price support is critical above $93,000 to maintain the current bull market structure.
Long-term holders are significantly increasing their hodl mentality, as evidenced by the unprecedented accumulation of Bitcoin over the last month. This historic increase in long-term holder supply suggests strong confidence among investors despite recent all-time high prices.
The substantial addition of BTC to long-term holdings highlights a potential support zone between $95,000 and $107,000, reinforcing its importance in maintaining market stability above $93,000. (Source)
