Thursday, November 30, 2023

Bitcoin Long-Term Holders (LHT) Hit New Highs

Star long-term holders (LTH) reached a new record, challenging the price later.

Despite the laterality of the price of Bitcoin, which on the other hand increased its value, long-term owners (LTH) set a new record. This means that many keep their bitcoins in the market.

This suggests confidence in Bitcoin for future value increases. But if they hit their price target, it could lead to a sale.

Glassnode reveals a positive trend, as holders maintain their assets. However, recently there has been a reduction back to 25,000.

The previous number, about 50,000, coincided with a drop in the price of Bitcoin by $30,000. So the long-term owners chose to take advantage of their profits.

Read Also:  Bitcoin Surpasses S&P 500 in October, $40,000 Price Predictions Arrive

Despite the decline in holdings, new participants continue to enter according to Santiment.

The total number of headlines exceeded 50.5 million, showing an increase of more than 1 million since the beginning of November.

Bitcoin closed Sunday’s session higher at $37,023. The 70 and 200 time moving averages remained below the price, the RSI rose to 63 points and the MACD lines remained above the zero level.

Medium and long-term resistance is at $37,971. Meanwhile, the Ei indicators are mixed.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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