As Bitcoin (BTC) continues its upward trend, attention is focused on when holders' selling behavior will change. In this regard, Hunter Horsley, CEO of cryptocurrency asset management firm Bitwise, predicted that the market could enter a new phase if Bitcoin breaks through $130,000-$150,000.
Horsley pointed out in a recent social media post that despite Bitcoin being close to $100,000, long-term investors who have held Bitcoin for years are still selling some quantities. However, he emphasized that as the price reaches new all-time highs and crosses a certain level, the strategy will shift from selling to taking out loans using their assets as collateral.
This change is expected to reduce the available market supply and consequently provide additional momentum to Bitcoin's price increase. Horsley said, "In the future, there will be a shortage of Bitcoin that can simply be sold," diagnosing that increased demand and decreased selling pressure will drive the rise.
Simultaneously, individual investors' psychology is changing. According to market research firm Santiment, positive social media mentions of Bitcoin have increased more than twofold compared to negative mentions, indicating a rapid recovery of investment sentiment. This is the first time such heightened optimism has been observed since about seven months after the presidential election.
However, experts are warning that this excessive investment sentiment could be a signal of market peak. The 'Fear & Greed Index' is currently recording 71, indicating a stage interpreted as 'greed'.
Nevertheless, whale investors and some long-term holders continue their accumulation strategy, expecting a bullish market. Daily realized profits amount to about $930 million, and some analyses suggest that macroeconomic uncertainties such as the U.S. federal government's debt negotiation difficulties are enhancing Bitcoin's attractiveness as a scarce asset and value preservation method.
As the market structure is being reorganized around long-term holding, with limited supply and gradually expanding demand, there is speculation that this could be a turning point where investors' attitudes and trading methods could fundamentally change if Bitcoin breaks through the psychological resistance line.
Real-time news...Go to Token Post Telegram
<Copyright ⓒ TokenPost, Unauthorized Reproduction and Redistribution Prohibited>
