On-chain data reveals behavioural divergence between Bitcoin holders as long-term holders start accumulating while short-term holders exit the market. This trend suggests an early re-accumulation phase. Positive momentum indicators, including the Chaikin Money Flow and Aroon Up Line, indicate buyer dominance, projecting further price growth potential for Bitcoin, which currently trades above $91,851 support.
As the cryptocurrency market recovers from recent lows, on-chain data indicates a significant behavioural divide among Bitcoin (BTC) holders. Long-term holders (LTHs) have begun to accumulate again, contrasting with short-term holders (STHs) who are exiting the market. This duality highlights an early re-accumulation phase for Bitcoin.
Recent analysis by CryptoQuant’s IT Tech illustrates that BTC’s LTHs have resumed net accumulation for the first time since the previous local peak. This behavioural shift suggests that seasoned investors are returning to the market after a protracted distribution phase. The LTHs’ increasing positions indicate a strategic adjustment rather than merely substantial capital inflows.
Conversely, short-term holders—those who have possessed Bitcoin for under 155 days—are liquidating their assets in response to recent price pressures, with net outflows remaining negative. This trend reflects capitulation behaviour as newer investors retract their investments, which signals the early stages of re-accumulation as LTHs expand their holdings and STHs reduce theirs.
Analytical momentum for Bitcoin appears strong, evidenced by the positive Chaikin Money Flow (CMF), which sits at 0.10. This metric underscores strong buying pressure, indicating that BTC could experience extended price growth if demand continues to rise. The Aroon Up Line currently at 100% further illustrates the asset’s robust bullish uptrend, signifying that upward momentum is substantial.
Currently, Bitcoin trades above the critical support level of $91,851. If this bullish trend persists and demand skyrockets, the price may advance towards $95,971. However, failure of traders to maintain profit-taking could invalidate this bullish scenario and result in a price drop to retest the $91,851 support level, with potential declines down to $87,730.
