Bitcoin ($BTC) has continued to decline significantly, and further price declines are expected. But the whales started buying.
The biggest reason cited for the fall in Bitcoin prices is that selling by long-term Bitcoin investors has been replaced by buying.
According to Bitfinex analysts, in the long run $BTC Holders are starting to come together again.
Bitfinex said in an analysis published on its official X account that Bitcoin long-term holders (LTH) assets are starting to rise again after months of decline.
According to Bitfinex, the total supply by long-term investors is $BTChad decreased to 13.8 million units in recent months, but has increased to 14.3 million units.
Analysts say these data suggest the market peaked in October and the subsequent decline could be a mid-cycle correction.
Bitfinex analysts point out that LTH has historically been driven by aggregate volume growth. $BTC Collection.
According to analysts, the LTH accumulation occurred about three to four months ago. $BTC Price increases in past bull markets. Historical data shows that long-term investors start buying Bitcoin before the price rises. Approximately 3-4 months after these purchases, the price of Bitcoin increases.
In this context, Bitfinex added that if this LTH accumulation trend continues, it would support the view that the current market is undergoing a correction within a broader cycle rather than declining from a definitive peak.
*This is not investment advice.