The cumulative sum in dormant bitcoin addresses surpassed 12.58 million BTC, worth just about $100 billion at current price. It indicates most investors are holding strong despite volatility in the market.
It also demonstrates that amidst one of the steepest falls in recent history from $13,900 to $6,410, the majority of investors were holding onto bitcoin, as pointed out by a researcher known as Rhythm.
Its an optimistic macro indicator for bitcoin
In the short-term, the price movement of bitcoin is likely to be swayed by trends in the margin trading market through platforms like BitMEX and Binance Futures.
Often times, long or short squeezes trigger a significant price movement to either the downside or the upside, creating large volatility in the crypto market.
In the long-term, however, macro and fundamental factors will determine the pathway of bitcoin. Fundamentals for the dominant cryptocurency are considered to be metrics such as hashrate, user activity, and declining supply or scarcity.
The lack of outflow from most BTC addresses adds to the optimistic macro outlook on bitcoin. It specifically demonstrates that at least more than half of all BTC holders are investing with a long-term investment thesis.
$100 billion worth of bitcoin are stored in dormant addresses (Source: Bitinfocharts.com)
The long-term investment thesis for BTC
In his famous essay entitled “The case for a small allocation to Bitcoin,” Xapo CEO Wences Casares said in March 2019 that he believes BTC could be worth as much as $1 million in the next decade.
“My preferred way of guessing how the price of Bitcoin may evolve is much more prosaic. I have noticed over time that the price of Bitcoin fluctuates around ~ $7,000 x how many people own bitcoins. So if that constant maintains and if 3 billion people ever own Bitcoin it would be worth ~ $21 trillion (~ $7,000 x 3 billion) or $1 million per Bitcoin,” he wrote.
Bitcoin would have to see an exponential increase in adoption over the next several years and show a similar trend to gold in evolving into a proper store of value.
The sheer number of investors holding BTC through wild volatility and significant corrections with a long-term investment thesis suggest that most investors believe it is possible for BTC to evolve into a major asset in the years to come.
For that to happen, the basics and the fundamentals have to support both BTC and the rest of the asset class in digital currencies.
The continuous efforts of companies to build custodians, regulated platforms to trade, provide higher liquidity, and overall safer environments to invest in the cryptocurrency are likely to act as a driving factor of bitcoin. The post appeared first on NewsBTC. origin »
Bitcoin's price remains stagnant below $100,000, with technical indicators showing bearish momentum. The market is at a crossroads, with a potential drop to $89,000 or a breakout above $100,000.
Bitcoin price started a fresh upward move above $100,000. BTC is facing resistance at $103,000 and might aim for an upside break. Bitcoin started a decent upward move above the $100,000 zone. The price is trading below $103,200 and the 100 hourly Simple moving average.
It’s just days away from the inauguration of Donald Trump and Bitcoin is threatening once again to break above $100,000 after a bearish start to the week.
After weeks of trading below the critical $100,000 mark, Bitcoin has started 2025 with renewed bullish momentum. The cryptocurrency, which had been struggling since last month, has shown signs of recovery, climbing back above the psychological $100,000 threshold earlier today for the first time in recent weeks.
Bitcoin is at a critical juncture after reaching $104,087, with market sentiment showing signs of overheating. A failure to sustain the $100,000 level could trigger a price drop, potentially testing lower support levels like $75,000.
President-elect Donald Trump, now a vocal supporter of Bitcoin, took to social media to congratulate cryptocurrency holders on surpassing the $100,000 milestone for the first time in history. Bitcoin Price Surpasses $100,000 In a post on Truth Social, Trump expressed his excitement and support, stating, “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!” Trump’s Bitcoin endorsement aligns with his campaign promises to position the United States as the “crypto capital of the world.
Robinhood Markets Inc (NASDAQ: HOOD) climbed to a multi-year high as Bitcoin soared past the closely watched $100,000 level on Thursday. The last time its shares traded above $40 was in late 2021. Investors are primarily responding to the monster rally in BTC this morning – but a massive year-to-date gain of about 250% […]
Bitcoin has finally shattered the elusive $100,000 barrier, marking a monumental moment in the cryptocurrency's journey from cypherpunk curiosity to global asset.
A CNBC report states, bitcoin, the world’s largest cryptocurrency, has struggled to breach the $100,000 mark, even after a robust rally that pushed its value to an all-time high of $99,000 last week.
Bitcoin climbed to $99,400 on Thursday, edging closer to the psychological $100,000 milestone as cryptocurrency markets continue their post-election rally amid expectations of a more favorable regulatory environment under President-elect Donald Trump.
Bitcoin's meteoric rise continues unabated as the leading cryptocurrency breached $94,000 for the first time in history, setting the stage for what many believe will be an imminent push past the $100,000 mark.
Bitcoin’s ATH of $75,100 was fueled by election optimism and institutional inflows. Further highs depend on investor sentiment and support levels.
The post Bitcoin Price Sets New All-Time High at $75,100 as US Election Results Favor Donald Trump appeared first on BeInCrypto.
Unraveling the mystery of "Mr. 100," a Bitcoin behemoth acquiring thousands of BTC, now identified as Upbit's cold wallet, spotlighting secure digital asset management.
The post Bitcoin Whale “Mr.
Bitcoin (BTC) enthusiasts have been eagerly anticipating a monumental surge past the $100,000 mark, spurred by the cryptocurrency’s robust fundamentals. However, amidst the recent upheaval in the market, optimism has been met with volatility.
Bitcoin (BTC) remains at the center of attention as Bloomberg Intelligence’s senior macro strategist, Mike McGlone, reiterates his prediction of the top crypto reaching $100,000. However, he cautions that the journey to this six-figure milestone may take work.
Директор по развитию CoinShares Мелтем Демирорс заявила в комментарии CNBC, что до конца 2021 года курс первой криптовалюты взлетит до $100 000. Bitcoin to the moon! $100,000 could be the next target for the world's top cryptocurrency, and it could happen as soon as this quarter, says @CoinSharesCo Chief Strategy Officer @Melt_Dem.
The managing director of investment advisory firm Midas Touch Consulting, Florian Grummes, has predicted a $100,000 price mark for Bitcoin in the next 6months, with a possible dip after a short while.
It's not just a demand and supply narrative that will propel Bitcoin's price to $100,000. In addition to this popular theory, William Quigley, who is the co-founder of Magnetic shared another reason wThe post This expert offers a new reason why Bitcoin will reach $100,000 in 18 months appeared first on AMBCrypto.
Bitcoin is consolidating above the $9,100 level against the US Dollar. BTC could start a strong increase towards $9,500 as long as it is above the 100 hourly SMA. Bitcoin is currently trading in a contracting range below the $9,300 resistance.
Bitcoin is currently consolidating above the $8,500 and $8,250 support levels against the US Dollar. BTC price seems to be setting up for a strong bull run above $9,000 and $9,100. Bitcoin is trading in a crucial range above the $8,500 and $8,200 support levels.
Bears are back, and they’re back with a vengeance. As of the time of writing this, Bitcoin (BTC) is trading at $7,100, having plunged as low as $6,800 — an extremely important long-term price level.
Известный криптоаналитик и ИТ-директор Adaptive Capital Мурад Махмудов заявил, что, по его мнению, биткоин находится на пути к $100 000. Бывший финансовый аналитик Goldman Sachs Махмудов считает, что трейдерам следует иметь в виду долгосрочную перспективу инвестиций в BTC.
Известный теханалитик Питер Брандт выразил мнение, что долгосрочной целью цены первой криптовалюты является отметка $100 000. Bitcoin takes aim at $100,000 target. $btcusd is experiencing its fourth parabolic phase dating back to 2010.
Despite the cryptocurrency market crash which has ravaged the industry for more than a year now, data show continuing interest in Bitcoin and other cryptocurrencies. Latest transaction information shows that $396 million worth of Bitcoin was moved by whales in the last month.
In the midst of the weekend, the Corn unexpectedly for all forecasters took off from $ 3,997 to more than $ 4,200, then to collapse below $ 3,800. What was it? Weekend Surprise The Corn started to a level above $ 4,100 on Saturday, February 23, at 18:00 UTC, and this lasted exactly until 2:00 […]
The Last Month's Activity – What the Top 100 Bitcoin Whales’ Wallets Have Seen Change This year is starting to see some major changes in the way that cryptocurrency is behaving, and there are already some changes in the top 100 Bitcoin whales’ account balances. A top 100 Bitcoin whale is one of the major […]
As Bakkt's Release Nears, Can It Be Crypto's Savior? Will ICE's Crypto Trading Platform Push Forward Adoption? Many people in the traditional finance world and crypto industry are preparing for the launch of the digital asset platform called Bakkt, which will bring forth the first physically-settled bitcoin futures. The launch will not happen until later […]
Bakkt, a digital asset platform which is set to introduce the very first physically-settled bitcoin futures, will launch later this year. And, according to Alec Ziupsnys, the launch could legitimize the dominant cryptocurrency before 100 million potential users per week.
Bitcoin has suddenly dived from $4,100 to a brief low of $3,600 before some recovery to $3,800 all within about 15 minutes. Other cryptos have likewise fallen. Eth dropped some...
The post Bitcoin Crashes $500 in Minutes, Profit Taking, Short Making or What? appeared first on Trustnodes.
Bitcoin price extended gains and broke the $3,950 and $4,000 resistance levels against the US Dollar. The price traded to a new 2019 high above $4,100 and it could continue to rise in the near term.
Trump's cabinet's Bitcoin investments signal a strategic shift towards crypto, potentially reshaping U.S. financial policy and global influence.
The post Trump’s cabinet members disclose Bitcoin holdings, totaling millions appeared first on Crypto Briefing.
Bitcoin dominance hit a new cycle high despite price correction as investors shift from altcoins, driven by stronger-than-expected U.S. job growth and the Federal Reserve’s hawkish stance. According to Matrixport, Bitcoin (BTC) dominance has surged to a new cycle high,…
Sen. Cynthia Lummis has reintroduced the BITCOIN Act, a bill that would authorize the U.S. government to acquire an additional one million Bitcoin—effectively codifying President Donald Trump’s newly established strategic Bitcoin reserve while taking it a step further.
Reintroducing the Bitcoin Act could significantly impact U.S. financial strategy and global cryptocurrency dynamics, pending legislative support.
The post Senator Lummis reintroduces BITCOIN Act, proposing 1 million BTC purchase appeared first on Crypto Briefing.
The transfer of Bitcoin by Mt. Gox could influence market volatility and investor sentiment amid ongoing price fluctuations and regulatory concerns.
The post Mt. Gox moves 11,501 Bitcoin to unmasked wallet after price drops below $77,000 appeared first on Crypto Briefing.
Bitcoin’s price has entered a volatile trading range between $78,000 and $82,000 as bullish momentum fades and traders react to shifting macroeconomic conditions. After briefly reclaiming $90,000 last week, a “sell-the-news” reaction to developments like the US Strategic Bitcoin Reserve…
This move could significantly impact Bitcoin's market dynamics and influence corporate treasury strategies globally.
The post Strategy to offer $21B in preferred stock to expand Bitcoin holdings appeared first on Crypto Briefing.
