Bitcoin Short-Term Holders Cash In as Price Tops $68K

IconCryptoNewsTerminal Staff24 Jul, 2024

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Bitcoin Short-Term Holders Cash In as Price Tops $68K

According to recent data, 75% of short-term Bitcoin (BTC) holders are now in profit as the cryptocurrency reclaimed the $68,000 mark. This recovery has provided some relief to investors, with BTC gaining roughly 28% since dropping to lows of $53,550 in early May. The digital asset has since corrected but found support at $66,000, suggesting that the recent rally may have legs. The strong performance of short-term holders is a sign of the increased confidence in Bitcoin's long-term prospects. As the cryptocurrency continues to gain adoption and institutional investment, it is likely that more and more investors will hold BTC for longer periods of time.

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