Santiment, a prominent crypto data provider, took to Twitter to share intriguing insights about Bitcoin’s distribution. According to their tweet, a staggering 15,870 Bitcoin addresses currently boast at least 100 BTC holdings each.
These substantial holders, often referred to as “whales,” collectively possess a substantial 11.5 million BTC, which astonishingly constitutes more than half (59.2%) of the entire circulating supply. Impressively, their cumulative ownership has surged by 27,755 BTC over the past 12 weeks, underscoring their growing influence in the market.
Switching gears to market analysis, respected analyst Ali chimed in on Twitter with an observation that adds to the narrative of Bitcoin’s stability. Ali’s tweet highlighted that an impressive 55% of the circulating BTC supply has remained dormant for a span of two years.
This data point underscores the resolve of long-term BTC holders who remain steadfast in their belief in the digital currency’s potential. Their unwavering commitment to HODLing is indeed a testament to their conviction in Bitcoin’s long-term viability.
Bulls Vs. Bears: BitQuant Breaks Down Bitcoin Price Scenarios
When delving into the realm of BTC price analysis, BitQuant, an enthusiast in the Bitcoin sphere, provided his perspective. BitQuant described the ongoing dichotomy between Bitcoin bulls and bears. The “bears” anticipate a market nosedive to a price of $12,000, holding onto their vision of a more affordable entry point.
In contrast, the “bulls” are divided into two camps. Some envision a scenario reminiscent of the pre-halving peak witnessed in 2019, while others are more optimistic, foreseeing the possibility of new all-time highs.
For those who align with the notion of a 2019-like peak, BitQuant suggests a cautiously optimistic approach. He proposes that a potential ascent to the $60,000 mark could serve as a pivotal juncture to consider initiating selling strategies. While acknowledging that this strategy might not be ideal, it is presented as a rational and prudent option for those who prioritize a calculated and informed decision-making process.
Nevertheless, these recent Twitter insights provide a multifaceted view of the current state of the Bitcoin landscape. The prevalence of significant BTC holders, the steadfast commitment of long-term holders, and the diverse range of perspectives on price movement collectively contribute to the dynamic and ever-evolving nature of the cryptocurrency market.
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