• Home
  • Bitcoin
  • Bitcoin long-term holders start taking profits 😎
Bitcoin long-term holders start taking profits 😎

Bitcoin long-term holders start taking profits 😎

Bitcoin Profit-Taking Activity by Long-Term Holders Cooling Off

The recent spike in profit-taking by long-term bitcoin holders following the all-time high in March has begun to taper off, according to a recent Glassnode report. The report highlighted the balance of assets between long-term holders and new demand, suggesting that the current market is in the early stages of a euphoria or price discovery phase. While previous euphoria phases have seen significant price drawdowns exceeding 10%, the report noted that there have been only two corrections of around 10% since the March all-time high.

The Impact of the Upcoming Bitcoin Halving on Market Speculation

The upcoming bitcoin halving event is a key driver of market speculation at the moment. VeChain Founder Sunny Lu believes that the evolving impact of regulation will influence bitcoin’s trajectory post-halving. Lu highlighted how regulatory-related developments have influenced pivotal price moments since the last halving in May 2020. He noted three significant price peaks following the previous halving, including after the Coinbase IPO, the approval of bitcoin futures ETFs, and the approval of spot bitcoin ETFs.

  • Regulation’s impact on bitcoin price post-halving
    • Regulatory developments driving pivotal price moments
    • Three significant price peaks after the previous halving
    • Shift in focus from supply dynamics to macroeconomic factors

Bitcoin Halving: Shifting Focus to Macro Forces

According to VeChain Founder Sunny Lu, there has been a shift in focus from the traditional understanding of the bitcoin halving’s impact solely based on supply dynamics. Lu emphasized that it is now more about the broader impact of macroeconomic factors on the market. He highlighted how regulatory progress following the previous halving led to multiple all-time highs post-halving, triggered by both regulatory developments and the inherent psychological impact of the halving on the market.

Examining the Impact of Macro Forces on Bitcoin Prices

VeChain Founder Sunny Lu further explained that the focus has moved away from the mathematical impact of the halving, which typically leads to price increases due to a decrease in supply. Instead, the emphasis is now on the broader macroeconomic forces influencing bitcoin prices. By looking beyond supply dynamics, market participants are considering a wider range of factors that could drive price movements in the future.

Read Disclaimer
This content is aimed at sharing knowledge, it's not a direct proposal to transact, nor a prompt to engage in offers. Lolacoin.org doesn't provide expert advice regarding finance, tax, or legal matters. Caveat emptor applies when you utilize any products, services, or materials described in this post. In every interpretation of the law, either directly or by virtue of any negligence, neither our team nor the poster bears responsibility for any detriment or loss resulting. Dive into the details on Critical Disclaimers and Risk Disclosures.

Share it

Bitcoin long-term holders start taking profits 😎