Long-Term Bitcoin Holders Remain Greedy Amid Price Break Toward $100,000, Why This Is Good

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As a seasoned analyst with over two decades of experience in financial markets, I have seen many bull runs and bear markets alike. The current Bitcoin market trend has piqued my interest, not just because it is approaching the $100,000 mark, but because of the behavior of long-term holders.

Long-term investors of Bitcoin are displaying increasing enthusiasm as the value of BTC moves closer to $100,000. A cryptocurrency expert has emphasized the importance of this market behavior, suggesting that a potential peak in the Bitcoin market might occur within the coming months.

Long-Term Holders Stay Greedy

Information from Glassnode suggests that long-term Bitcoin investors are displaying a high degree of greed, which has grown more pronounced as the value of BTC continues to trend upward. As Bitcoin approaches the projected $100,000 mark, these long-term investors, often referred to as HODLers, remain resolute, showing no intention of selling their assets even with rising prices and escalating profits.

According to information from the market intelligence platform IntoTheBlock, approximately 98% of Bitcoin owners are currently enjoying profits due to the current market price. This highlights Bitcoin’s impressive success this month, as many long-term investors bought their Bitcoins at prices lower than its present value in the market.

As a crypto investor, I’ve been closely watching the insights shared by analyst Ali Martinez. Recently, he pointed out on X (formerly Twitter) that an escalating rise in long-term Bitcoin holders’ greed could indicate a forthcoming surge to unprecedented price peaks. Interestingly, when holders’ greed was high in past bull cycles, it took around 8-11 months for Bitcoin to hit its next market peak.

According to the analyst’s forecast, if the current trend persists, we might see Bitcoin reaching a possible maximum value somewhere between June 2025 and September 2025. The analyst’s graph suggests that Bitcoin owners who hold for long periods displayed excessive greed during past market bull runs following cyclic halving events.

An ongoing rise in long-term investors’ appetite for more Bitcoin might be seen as a positive indication, since it implies that less of the digital currency is circulating or up for grabs, leading to potential scarcity. As enthusiasm for Bitcoin grows alongside bullish market conditions and demand continues to rise, there’s a chance the cryptocurrency’s price could reach the highly sought-after $100,000 milestone.

Even though some experts and the overall market predict a surge to $100,000 for Bitcoin, many of its owners are showing strong determination by continuing to hold onto their investments. This steadfast belief in Bitcoin’s potential serves to discourage panic selling during this bull run, as the market remains hopeful about even greater price increases for the cryptocurrency in the future.

Bitcoin Price Could Hit $100,000 Today

Martinez recently shared in a post that today might be the day when Bitcoin hits its record high of $100,000. The analyst noted that the SuperTrend indicator on the Bitcoin hourly graph has turned bullish, suggesting that prices have surpassed an upward trend line and the Relative Strength Index (RSI).

presently, Bitcoin’s market value is at approximately $98,288, marking a 7.16% surge over the last seven days. To surpass the $100,000 mark, it needs to climb an additional $1,712, which equates to a minor increase of 1.74%.

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2024-11-26 00:40