๐ Bitcoin's been stuck under $70K, but don't lose hope! ๐ According to CryptoQuant, we're not at peak euphoria yet.
โข Long-term holders are still dominating, forming a solid price support base.
โข Short-term holders? They're only about 35% of the realized cap.
โข This is similar to early stages of previous bull markets.
So, what's the silver lining? ๐ค๏ธ The "relative scarcity" of short-term holders suggests a bear market isn't imminent and there's still room for a price rally.
However, BTC holders are showing some fear, with a big 3-day drop in non-empty wallets. But Ethereum wallets are growing, showing sustained interest in the largest altcoin.
So, what do you think? Can the retail crowd push BTC above $70K? Let's chat below! ๐ฌ #Bitcoin #Crypto #DeFi