Bitcoin Near ATH as Long-Term Holders Continue Accumulating

Recent on-chain data indicates that long-term holders (LTHs) of Bitcoin (BTC) are not selling their assets as BTC approaches its all-time high (ATH). Instead, they continue to accumulate, reflecting confidence in future price increases.

Key Insights

Profit-taking among LTHs remains low despite BTC nearing ATH levels.
The LTH Spent Output Profit Ratio (SOPR) is declining, indicating minimal profit realization.
Current consolidation is mostly driven by short-term holders and retail traders.
Analysts predict a bullish trend resumption for BTC, potentially reaching new highs.
BTC whales show less profit-taking compared to previous bull cycles, aligning with LTH behavior.

Comparisons with gold are being made, as gold has risen significantly in value. Analysts suggest BTC could see similar gains, with forecasts estimating potential highs of $155,000 this year. Currently, BTC trades at $101,852, experiencing a 1.5% decline over the last 24 hours.