NewsBTC
25 January 2025
3 0

Bitcoin Long-Term Holders Enter Greed Territory Amid Price Optimism

Bitcoin Long-Term Holders Enter Greed Territory

Crypto analyst Ali Martinez reported that long-term Bitcoin holders are now in a greed phase, indicating excessive optimism about BTC's future performance. Key points include:

  • This shift from capitulation to greed may lead to impulsive accumulation of BTC.
  • The current sentiment could boost Bitcoin prices short-term due to increased buying pressure.
  • On-chain analytics show wallets holding 100 to 1,000 BTC reached an all-time high of 15,777.
  • Transactions over $100,000 surged, indicating active participation from Bitcoin whales.
  • Long-term risks include potential overbought conditions leading to significant sell-offs.
  • Optimism around political changes and a strategic BTC reserve may be driving this sentiment.

Key Price Levels for Bullish Momentum

Martinez emphasized the importance of maintaining Bitcoin above $97,530 to sustain bullish momentum. Current trading is around $104,900, with a recent all-time high of $109,000. Analyst Crypto Rover identified $102,000 as a critical support level; falling below this could see BTC drop to $98,000.