K33 Reports Bitcoin Long-Term Holder Supply Hits Record High

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Record High Long-Term Holder Supply: K33 Research reports that Bitcoin's long-term holder supply has reached a record high, indicating growing investor confidence in holding Bitcoin, which could impact market liquidity and price volatility.
Market Structure Shift: As the supply held by long-term holders increases, the effective liquid supply available for trading decreases, potentially leading to larger price swings, reflecting holders' lower sensitivity to short-term price fluctuations.
Need for Data Verification: While K33 claims a record high in long-term holder supply, the specific figures and methodology require further verification to ensure the accuracy and reliability of the data presented.
Market Impact Analysis: The increase in long-term holders is often seen as a sign of market confidence; however, macroeconomic factors and changes in holder behavior can influence market dynamics, thus making it premature to base trading decisions solely on this metric.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	54271.813	57513.406	60808.963	64050.556	67346.113	70587.706	73883.263
Fibonacci	57513.406	60010.598	61553.365	64050.556	66547.748	68090.515	70587.706

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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