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Bitfinex analyst: Bitcoin to break through the 100,000 mark requires new buyers to effectively absorb the selling pressure of long-term holders
Bitfinex analysts said that bitcoin's upward momentum depends on how to balance demand from short-term holders (STH) and supply from long-term holders (LTH). Analysts say the supply of STH is close to 3.28 million Bitcoin, a level that historically starts correlating with data in the bull market peak area. This suggests retail interest is rising. But the increase in profit-taking by long-term holders has put pressure on Bitcoin's upward momentum and could...
2024-12-04 15:59:59
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