Bitcoin Long-Term Holders Officially Enter Into Greed Territory, Is This Good Or Bad For Price?
In the recent development, cryptocurrency analysts Ali Martinez It is revealed that the long -term holders of Bitcoin have officially entered the field of greed. Although long -term consequences may be serious, this may be conducive to price in the short term. The greedy stage shows that long -term Bitcoin holders are now too optimistic about the future trajectory of Bitcoin.
Long -term holders of Bitcoin officially entered the greedy territory
In one X postMartinez said that long -term Bitcoin holders have experienced all stages of Bitcoin development Market cycleNow let greedy dominant positions. From the perspective of market emotions, these holders have shifted from surrender to hope, optimism, to faith, and now they are now in the stage of greed.
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This excessive optimism usually causes these investors to accumulate more bitcoin impulsively without considering rational analysis. In the short term, This greedy stage Optimistic about Bitcoin prices, because this market mood may cause more purchase pressure and push up flagship cryptocurrencies.
The purchase pressure of Bitcoin seems to be obvious. Santime on the chain analysis platform revealed that the number of wallets holding 100 to 1,000 BTC has exceeded the historical high (ATH) and rose to 15,777 wallets. The platform also mentioned Bitcoin whale This week, with the arrival of the U.S. inauguration and the arrival of the new BTC ATH, the transaction volume of more than 100,000 US dollars has soared to the highest level in six weeks.
This greedy stage is beneficial to Bitcoin because it may continue to push flagship cryptocurrency to a new high. However, in the long run, this excessive optimism may cause Bitcoin to fall into trouble. Superb buying areaEventually triggered a large -scale selling wave, resulting in the plunge of Bitcoin prices.
This greedy stage of the long -term holders of Bitcoin seems to be caused by the optimistic emotions of Donald Trump’s government and cryptocurrencies supporting cryptocurrencies. Bitcoin strategic reserve especially. This is still risk of Bitcoin prices, because if the Bitcoin reserve is not created in the end, the transaction price of flagship cryptocurrency may be much higher than the actual value.
What needs to happen in Bitcoin to keep up
In another x post, Ali Martinez The warning says that the price of Bitcoin needs to be maintained at more than $ 97,530 before it can be kept bullish. He said that the level of price is a key support for Bitcoin worthy of attention, because maintaining this level is critical to maintaining the current bullish momentum. After Bitcoin touched the new ATH of $ 109,000 earlier this week, it is currently consolidating near the interval.
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At the same time, cryptocurrency analysts Encrypted drowner The support area of ​​$ 102,000 is the most important support area of ​​BTC prices. The chart attached to him shows that if the flagship cryptocurrency falls below the support, its price may fall to $ 98,000.
According to CoinMarketcap data, as of writing this article, the price of Bitcoin was about $ 104,900, up more than 2% in the past 24 hours.
Selected pictures are from unsplash, the chart comes from tradingView.com
