#BTCRebound

Bitcoin (BTC) Targets $85,000 as LTH Accumulation Increases

The leading cryptocurrency, Bitcoin, has experienced turbulent weeks, as its price issues have driven many short-term investors, often referred to as "paper hands," out of the market.

However, amid the price volatility, long-term Bitcoin (LTH) holders remain resilient and show no signs of slowing down as they attempt to push Bitcoin above $85,000. When can they achieve this?

Long-term Bitcoin holders shift from selling to accumulating

In a recent report, analyst Burak Kesmeci of CryptoQuant assessed the net change in the position of long-term BTC holders (30-day aggregate). He found that since April 6, the metric has turned positive, indicating clear upward momentum. As a result, Kesmeci wrote, Bitcoin's value has risen by approximately 12%.