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Bitcoin long-term holders resumed increasing their holdings, and the rebound in ETF demand outstripped miners’ selling pressure
According to the latest “Bitfinex Alpha” report released by Bitfinex, long-term Bitcoin (BTC) holders have now begun to accumulate Bitcoin for the first time since December, marking a new trend change in the market.
Analysts note that these investors' motivation to sell has weakened, while at the same time, there has been a clear increase in buying behavior.
Image: Bitfinex/CryptoQuant
After Bitcoin reached its all-time peak of $73,666 in March, long-term holders engaged in massive selling operations, which led to an increase in supply on the market and subsequently triggered a period of price pullback and correction.
Analysts note that these investors' motivation to sell has weakened, while at the same time, there has been a clear increase in buying behavior.
Image: Bitfinex/CryptoQuant
After Bitcoin reached its all-time peak of $73,666 in March, long-term holders engaged in massive selling operations, which led to an increase in supply on the market and subsequently triggered a period of price pullback and correction.
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