Bitcoin’s Long-Term Holders Are Back, and They’re Not Messing Around! 💰🚀

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So, guess what? Bitcoin’s long-term holders have decided to stop binge-watching their portfolios and actually start accumulating again! 🎉 Yes, you heard that right! Despite the market throwing a tantrum like a toddler denied candy, these savvy investors are flipping the script. According to our friends at Glassnode, the “BTC: Long-term holder net position change” metric has finally turned positive for the first time this year. It’s like watching a soap opera where the villain suddenly becomes the hero—plot twist! 📈

Long-Term Holders Add 167,000 BTC Amid March Crash

Earlier this month, Bitcoin’s price took a nosedive from over $90,000 to around $80,000. I mean, talk about a dramatic drop! It was like watching a reality show contestant get voted off the island. But instead of panicking, our long-term holders saw this as a golden opportunity to stock up on BTC like it was the last slice of pizza at a party. 🍕

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On-chain data reveals that long-term holders have increased their net Bitcoin holdings by over 167,000 BTC in just a month. That’s nearly $14 billion! 💸 It’s like they found a treasure chest while everyone else was busy crying over spilled milk.

Is A Bitcoin Price Recovery Brewing?

The timing of this flip from red to green is more surprising than finding out your favorite celebrity is actually a cat person. 🐱 This data suggests that the Bitcoin crash was largely due to short-term holders panicking like they just saw a spider. This behavior mirrors past market cycles where long-term holders swooped in like superheroes during a price dip.

And it gets better! Glassnode’s long-term holder metric isn’t the only one giving us warm fuzzies about Bitcoin. After weeks of uncertainty, Bitcoin ETFs are finally seeing some love again. On March 17, they raked in about $274.6 million—the largest single-day inflow in 28 days! It’s like the universe is telling us, “Hey, remember Bitcoin? Yeah, it’s still a thing!” 🌌

The very next day, another $209 million flowed into Bitcoin funds. This three-day streak is the first sign of positive inflows since February 18, which is like finding out your ex is dating someone who’s not a total jerk.

As of now, Bitcoin is trading at $83,500. So, buckle up, folks! It looks like the rollercoaster ride is just getting started! 🎢

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2025-03-20 05:47