CryptoQuant: Long-Term Holders Dey Keep BTC Bullish Near $104K
CryptoQuant analyst Abramchart talk sey Bitcoin price dey near $104,000, o be like sey long-term holder (LTH) dem confidence and profits strong (NUPL > 0.5). Meanwhile, short-term holders (STH) dey near small profit, dat one fit mean say dem fit start to collect profit quick wey fit cause short-term small fall. The main bullish trend for Bitcoin market dey support by LTH belief, but STH activity fit cause short sharp correction despite the overall uptrend.
Bullish
CryptoQuant report dey highlight strong profitability and confidence for long-term holders as NUPL dey above 0.5, e dey support the current Bitcoin price uptrend near $104K. Historically, when LTH conviction high, Bitcoin usually resume e upward momentum even if short-term holders dey take profit. The potential STH selling fit cause small pullbacks but the dominant bullish trend mean say more gains dey front both short and long term. Similar patterns dem see before for previous bull cycles when short-term holders profit-taking cause small corrections before the rally continue.