Discussion on Views about Bitcoin
BTC reached a high of $104,590, breaking the $100,000 mark on December 5, with a cumulative increase of 37.6% over nearly a month.
After hitting the high, it has now dropped a few thousand dollars, oscillating around $100,000, and many short-term profit-takers have already exited! Especially some whale users who started accumulating since 2022, with an average holding cost of about $20,000!
Although Bitcoin has corrected some now, it does not mean this is the top; bulls do not strictly top, Bitcoin has no highest point, only higher! Currently, there is a large amount of leverage in the market, so Bitcoin will also spike back and forth to liquidate contracts; only after removing leverage and bubbles can it rise higher!
Although Bitcoin broke $100,000 after Trump's victory, long-term holders with up to 14 million Bitcoins have all entered profit status. However, due to the strong buying power of Bitcoin spot ETFs, over 90% of the selling pressure has been absorbed, providing a key support role for Bitcoin prices.
At the same time, after some profit-taking, long-term holders may continue to wait for higher prices to sell, which suggests that the number of Bitcoins in circulation may take some time to increase.
Many large holders and institutions are hoarding coins, directly transferring them to wallets, including the U.S. listed mining company Marathon Digital, which has purchased an additional 1,300 Bitcoins in the past 7 hours.
Michael Saylor stated: Even if BTC reaches $1 million, I will continue to buy. In an interview snippet disclosed by Cointelegraph on platform X, Michael Saylor said: "Do not sell your Bitcoins; I am sure that even if Bitcoin reaches $1 million, I will continue to buy."
