Mid to Long-Term BTC Holders Accumulating, Rally Possible

IconCryptoNewsTerminal Staff27 May, 2024

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Mid to Long-Term BTC Holders Accumulating, Rally Possible

CryptoQuant contributor SignalQuant analyzed that "Recently, buying momentum among mid to long-term (6 months to 7 years) BTC holders has intensified. Similar buying behavior was observed in Q3 2019, after which BTC price consolidated for half a year before embarking on a parabolic rally. While it is uncertain whether the exact pattern will repeat, a higher long-term holder ratio historically has preceded rallies in the near future."