Source: Michaël van de Poppe/XOther market participants echoed the sentiment, including those seeing another retest of multimonth lows to take liquidity and “trap” late shorts.“I think Bitcoin will hit 78k first to grab liquidity before an Upside Breakout,” popular trader Captain Faibik argued in part of his own X content. “Once the breakout occurs, Bitcoin is likely to reach 109k in the coming weeks (Possibly by mid-April).”BTC/USDT 1-day chart.
This reflects the total value of coins based on the price at which they last moved, with those dormant for between three and six months rising rapidly.“Historically, this type of resilience among Bitcoin holders has played a crucial role in forming market bottoms and igniting new uptrends,” the post continues. “As long-term holders continue accumulating, the available supply in circulation decreases, making Bitcoin more scarce.
Per CryptoQuant, investors hodling between three and six months are now entering “accumulation” by refusing to succumb to panic selling, despite potentially being underwater on their stack.“According to the latest data, the percentage of coins held for 3 to 6 months has been rising rapidly, mirroring the accumulation patterns observed during the prolonged correction in the summer of 2024,” contributor ShayanBTC wrote in one of its “Quicktake” blog posts on March 16.“This trend highlights a hodling behavior, where investors refrain from selling their Bitcoin despite the current market correction.”Bitcoin realized cap by UTXO age (screenshot).
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by William Suberg
The story "Peak 'FUD' hints at $70K floor — 5 Things to know in Bitcoin this week" has 1233 words across 43 sentences, which will take approximately 6 - 11 minutes for the average person to read.
Which news outlet covered this story?
The story "Peak 'FUD' hints at $70K floor — 5 Things to know in Bitcoin this week" was covered 9 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 53 news stories per day.
It's most recent story was published 10 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
