As BTC's price steadily approaches the $100,000 mark, long-term Bitcoin holders are showing signs of increasing greed. A cryptocurrency analyst emphasized the importance of this market trend, highlighting that a Bitcoin market top may occur in the coming months.
Long-term holders remain greedy
On-chain data from Glassnode shows that long-term Bitcoin holders are exhibiting a considerable degree of greed, which continues to intensify as BTC prices maintain a bullish trajectory. Although the flagship cryptocurrency has moved a step closer to the anticipated $100,000 milestone, these long-term holders or HODLers remain steadfast, showing no signs of selling their holdings despite rising prices and increasing profits.
Data from market intelligence platform IntoTheBlock indicates that 98% of Bitcoin holders are in profit at the current market price. This highlights Bitcoin's outstanding performance this month, as most long-term holders purchased their assets at prices below BTC's current market valuation.
Popular cryptocurrency analyst Ali Martinez pointed out in a post on X (formerly Twitter) that historically, long-term Bitcoin holders' greed has been on the rise, indicating that prices may soon surge to new highs. He revealed that when holders' greed reached higher levels in previous bull market cycles, Bitcoin took 8-11 months to reach new market tops.
Source: X
Analysts predict that if this trend holds, the market should expect Bitcoin to reach a potential price peak between June and September 2025. According to his price charts, long-term Bitcoin holders have shown extreme greed in the previous bullish cycles following periodic halving events.
The steady increase in long-term holders' greed can be seen as a good sign, as it indicates that the coins in circulation or available for trading are becoming scarcer, ultimately leading to scarcity. As demand for Bitcoin rises in a bullish market trend, the cryptocurrency price may eventually hit the coveted $100,000 mark.
While the broader market and numerous cryptocurrency analysts anticipate a price breakthrough of $100,000, many Bitcoin holders are demonstrating steadfast determination by holding onto their assets. This unwavering courage in Bitcoin's potential has prevented panic selling during the current bull market, as the market remains optimistic about further price surges in cryptocurrency.
Bitcoin's price may reach $100,000 today
In a recent post on X, Martinez revealed that today could be the day Bitcoin finally reaches the historic milestone of $100,000. Analysts have indicated that the SuperTrend indicator on the Bitcoin hourly chart has turned bullish, suggesting that the price has broken through resistance trend lines and the Relative Strength Index (RSI).
The current price of Bitcoin is $98,288, having risen 7.16% in the past week. To reach the $100,000 milestone, the cryptocurrency needs to increase by $1,712, which is just a 1.74% rise from the current price.
