đ¨đ¨Long-Term Bitcoin Holders Accumulate $10B as Price Dips Below $60Kđ¨đ¨
As Bitcoinâs price slips below the $60,000 mark, long-term holders have crossed a significant milestone, collectively accumulating over $10 billion worth of the cryptocurrency. Despite recent market dips, these seasoned investors are showing resilience, with selling pressure significantly reduced.
According to CryptoQuant analyst Amr Taha, the realized capitalization of long-term holdersâthose who have held Bitcoin for over 155 daysâhas surpassed $10 billion for the first time. This metric considers the price at which each Bitcoin was last sold, offering insight into the broader market sentiment. Historically, once holders pass the 155-day mark, theyâre less likely to sell, making them more resilient to short-term volatility.
Data also shows that as Bitcoinâs price remained below $69,000 for 29 consecutive days, the selling pressure from these long-term holders decreased by 3.7 times. With Bitcoin now trading around $59,404, down 5.47% in the last 24 hours, some traders expect further downside. However, long-term holders seem content to ride out the fluctuations, waiting for better profit opportunities ahead.
While Bitcoinâs current price is 8% lower than what most long-term holders paid on average ($64,490), the market is watching closely to see if this dip is temporary or if further declines will test the patience of even the most steadfast investors.
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