Bitcoin Accumulation by Short- and Long-Term Holders Don Spike
On-chain data dey show say both short-term and long-term holders don dey accumulate Bitcoin reach record levels. Since June 22, long-term holders don add 13,000 BTC, increase their stake to 14.71 million BTC (wey be over 80% of circulating supply). Short-term holders come increase their position by 60,000 BTC reach 2.3 million BTC. This wide Bitcoin accumulation show say market confidence strong and sell pressure don reduce.
Earlier on-chain analysts talk say when long-term holders dey control over 80% supply, e dey usually come before big rallies. At the same time, Deribit traders dey buy September call options with $130,000 strike, betting say breakout go pass $110,000 resistance. If e hold sustain, e fit trigger high volatility.
Traders suppose dey watch these on-chain metrics and options flows make dem confirm bullish breakout. The coordinated accumulation and call option positioning mean say price get chance to move towards new all-time highs.
Bullish
Di combine way Bitcoin accumulation dey happen from both short- and long-term holders, plus big call option bets for Deribit, e show say market get strong belief and sell pressure don reduce. Historically, when long-term holders dey control pass 80% of circulating supply, big rallies usually dey follow. When both holder groups dey accumulate at the same time and option position still dey strong, e mean demand dey grow and e fit lead to bullish breakout for short and long term.