After its last offer of positive momentum, the price of Bitcoin’s return to the six -numbers evaluation was the most popular narration in the encrypted currency market. However, the latest data on the series indicates that a related group of investors may pose a threat to the excellent cryptocurrency dream to recover $ 100,000.
It may open a successful break of $ 100,000 to discover prices: Glassnode
In the May 2 publication on X, Glassnode Glassnode Blockchain subscriber An insight into the behavior of Bitcoin in the long run (LTH) and how it can affect the BTC price path during the next few days. Long -term holders refer to investors who have not transported their coins for more than 155 days.
According to the latest data on the series, Bitcoin Holders have been in the long term in the stage of accumulating in recent weeks, with more than 254,000 BTC advanced 155 days after the last price decreased. Glassnode added that most of these investors bought their coins above the price level of $ 95,000.
With the total bitcoin investors maintaining, this means that their spending is little and light-shadow-even in the face of the declining pressure and the state of the unsure market last month. Positive direction signals renewed this confidence and lack of interest in limiting their exposure to the market.
Source: @glassnode on X
However, Glassnode noted that long -term holders often begin to distribute their coins about 350 % of unreasonable profit margins, which corresponds to the price of bitcoin about $ 99,900. With BTC prices closed at this level, the Analysis Company believes that increasing the pressure side pressure may be on the horizon for the leading cryptocurrency.
Moreover, Glassnode revealed that a large part of the coins in the area ranged between 95,000 dollars – $ 98,000, has been bought, which led to the formation of the width barrier. Bitcoin price can witness great descending pressure if investors who have cost rules within this area decide to come out in Brekeven or after a little profit.
Analysis Company concluded that the potential pressure on the sale side of the large BTC supplies in the area of 95,000 dollars-98,000 dollars and their long-term holders who distribute their coins around the level of 99,900 dollars create a large resistance barrier. However, the successful breach of a $ 100,000 brand can “open the path to discover prices”, as currency supplies that exceed this price level are relatively light.
Bitcoin price at a glance
As of this writing, the BTC value is about $ 96,500, which reflects a 0.4 % decrease in prices during the past 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Distinctive image from Istock, tradingvief chart
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