Bitcoin’s Diamond Hands Double Down, Targets All-Time High
Bitcoin’s Permanent Holders are doubling down, continuing their accumulation even amidst market volatility. With demand surging, BTC is poised to test resistance and could break its all-time high if the momentum continues.
Since the beginning of February, Bitcoin has had difficulty stabilizing above the $100,000 mark. Donald Trump’s tariff wars have triggered significant market volatility, keeping traders on edge.
However, despite these headwinds, a key group of coin holders—those with no recorded history of selling—have intensified their accumulation. This signals a strong conviction in the asset’s long-term prospects.
Bitcoin Long-Term Holders Remain Resilient
Data from the on-chain analytics platform CryptoQuant shows a spike in Bitcoin’s Permanent Holder Demand. According to the data provider, Bitcoin’s permanent holders consist of owners who primarily accumulate the coin over time and never engage in spending transactions, indicating a long-term holding strategy.
Bitcoin Accumulator Addresses Demand. Source:
CryptoQuant
BeInCrypto’s assessment of the coin’s accumulator address demand reveals that since it hit a year-to-date low on February 2, it has soared. This reflects the surge in accumulation among these long-term investors.
Demand has rebounded even amid Bitcoin’s early February correction, signaling that long-term holders remain confident in the leading asset. Compared to previous cycles, fewer long-term holders are selling, reinforcing the bullish conviction.
Furthermore, BTC’s attempt to cross above its 20-day exponential moving average (EMA) confirms the resurgence in demand for the king coin. At press time, BTC trades at $98,022, slightly below this key moving average, which forms resistance above it at $98,995.
BTC 20-Day EMA. Source:
TradingView
The 20-day EMA tracks an asset’s average price over the past 20 trading days by giving more weight to recent price data. When an asset is poised to break above this moving average, it signals growing bullish momentum, suggesting a potential shift toward an uptrend if sustained.
BTC Price Prediction: Strong Holder Demand to Push BTC Above Key Resistance?
Sustained demand for BTC among its permanent holders could trigger a rally above the resistance formed by its 20-day EMA. A successful break above this level would provide the momentum needed for the coin to reclaim its all-time high of $109,356.
BTC Price Analysis. Source:
TradingView
However, if accumulation stalls among BTC investors, it could reverse current gains and drop to $92,325.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Pi Network’s approach to valuation, centered on productivity, poses a challenge to conventional cryptocurrency assessment methods.
- Pi Network's whale holdings near 375M tokens, signaling potential price surge amid technical upgrades and institutional interest. - Upcoming open mainnet launch and dApp growth validate network stability, supported by testnet success and productivity-driven valuation models. - Aggressive whale accumulation (1.23M tokens/day) and bullish chart patterns suggest a possible $0.50 rally, driven by AI-driven KYC and ISO certification efforts. - Expansion into decentralized AI training and a $100M investment in
XRP News Update: Regulatory Changes Drive XRP Rally with ETF Approvals Approaching
- XRP surged to $2.6, a two-week high, driven by anticipation of upcoming spot ETF approvals led by Canary Capital, Bitwise, and Franklin Templeton. - Institutional demand grew as REX-Osprey and Canary ETFs attracted $186M in inflows, while Solana ETFs secured $335M, signaling altcoin market maturation. - SEC's review of XRP ETFs and a 2024 court ruling classifying XRP as a commodity, not a security, reinforced regulatory clarity amid Trump-era crypto-friendly policies. - Ripple's $1.1B stablecoin and stra
Blockchain Connects Conventional and Digital Finance with Calastone’s Integration of Polygon
- Calastone partners with Polygon to tokenize fund distribution for 4,500 institutions across 58 markets, advancing blockchain adoption in institutional finance. - Polygon's proof-of-stake infrastructure enables sub-cent fees and instant settlements, bridging traditional markets with onchain efficiency while maintaining compliance. - Franklin Templeton expands its Benji platform to Canton Network, a private blockchain for institutional tokenized assets, highlighting hybrid solutions balancing privacy and t
XRP News Today: Memes and Markets Collide as First U.S. MOG ETF Application Fuels Speculation and Discussion
- Canary Capital filed first U.S. spot ETF for Mog Coin (MOG), a meme-based token, expanding crypto ETF options. - MOG's price rose 5.5% temporarily despite trading at fractions of a cent and an 80% annual decline. - The SEC's new generic ETF standards enabled niche token filings, with Canary's XRP ETF set for Nasdaq listing. - Critics warn memecoin ETFs prioritize speculation over utility, but $575M in altcoin ETF inflows show growing demand. - MOG ETF's 5% ETH allocation and cultural branding risks highl
Trending news
MoreCrypto prices
More
