{"id":53043,"date":"2025-02-11T04:46:20","date_gmt":"2025-02-11T04:46:20","guid":{"rendered":"https:\/\/emilynews.com\/blog\/?p=53043"},"modified":"2025-02-11T04:46:20","modified_gmt":"2025-02-11T04:46:20","slug":"bitcoins-booming-permanent-holder-demand-positions-btc-price-for-116k","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=53043","title":{"rendered":"Bitcoin’s booming ‘permanent holder demand’ positions BTC price for $116K"},"content":{"rendered":"

Bitcoin holders with no record of selling their holdings have increased their BTC reserves during the Trump-led market rally.<\/p>\n

BTC <\/span>has dropped by over 10% since establishing its record high of around $109,355 on Jan. 20. This peak coincided with Donald Trump taking office, marking 60% gains since his election victory in November.<\/div>\n
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\n

BTC\/USD three-day price chart. Source: TradingView<\/em><\/p>\n<\/figcaption>\n<\/figure>\n

Onchain data suggests that Bitcoin’s next leg higher could be imminent despite BTC\u00a0being stuck below $100,000.<\/p>\n

Bitcoin\u2019s \u201cPermanent Holder Demand\u201d grows<\/strong><\/h3>\n

According to\u00a0on-chain analytics platform CryptoQuant, Bitcoin\u2019s Permanent Holder Demand, a metric tracking accumulation from long-term investors, has skyrocketed in recent months.<\/p>\n

The trend aligns with Bitcoin\u2019s price increase from around $67,500 in November 2024 to its record highs in early 2025.<\/p>\n

Accumulator addresses, primarily belonging to investors who rarely sell, have significantly increased their BTC holdings, CryptoQuant data shows.<\/p>\n

Historically, past spikes in permanent holder demand have often been followed by an almost equal degree of decline, indicating that many of these so-called “strong hands” ultimately become sellers within a month after accumulating Bitcoin.<\/p>\n

This pattern has been particularly noticeable in prior bull runs, where aggressive buying eventually gives way to distribution.<\/p>\n

However, what makes the current uptrend unique is that the accumulator address demand\u2014both on a daily basis and its 30-day moving average\u2014has not reverted to pre-Trump levels, even after its recent decline from peak accumulation levels.<\/p>\n

Instead, the demand has recovered even during early February\u2019s correction, suggesting that\u00a0long-term holders are maintaining their conviction\u00a0in Bitcoin, with fewer selling compared to previous cycles.<\/p>\n

Trump\u2019s potential strategic Bitcoin reserve in the US and the cryptocurrency\u2019s growth among institutional players (ETFs,\u00a0government,\u00a0public-traded companies,\u00a0funds, etc.) are playing a major role in maintaining the upside momentum.<\/p>\n

Bitcoin\u2019s technicals eye $116,000<\/h2>\n

Bitcoin has been forming a symmetrical triangle pattern, a technical setup that often precedes a sharp breakout in either direction. According to market analyst,\u00a0Titan of Crypto, the BTC price can break above the triangle\u2019s upper trendline to reach $116,000 eventually.<\/p>\n

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\n

BTC\/USD weekly price chart. Source: Titan of Crypto<\/em><\/p>\n<\/figcaption>\n<\/figure>\n

As a technical analysis rule, the upside target move is measured after adding the maximum distance between the triangle\u2019s upper and lower trendline with the potential breakout point.<\/p>\n

Further supporting the bullish outlook, analyst DOM\u00a0has identified\u00a0an unprecedented Doji candle formation on the BTC daily chart, signaling market uncertainty akin to trends after the\u00a0FTX crash in November 2022.<\/p>\n

“For the first time in its 15-year history, BTC has three consecutive daily candles where the body made up less than 0.05% of the total candle range (Extreme Doji),\u201d the analyst wrote, adding:<\/p>\n

\u201cThis signals max indecision and a large move impending.”<\/blockquote>\n

As noted, Bitcoin\u2019s previous print of two consecutive extreme Doji candles in November 2022 preceded a 620% recovery rally. Bitcoin could be on the verge of another explosive price move if this historical fractal plays out similarly.<\/p>\n

Related:\u00a0<\/strong><\/em>Bitcoin OG sees $700K BTC price, $16K Ethereum in this \u2018Valhalla\u2019 cycle<\/strong><\/em><\/p>\n

Additionally, Grayscale’s head of research, Zach Pandl,\u00a0predicts\u00a0that Bitcoin could hit new all-time highs in Q1 2025, supported by Trump\u2019s policy tailwinds and stable equity markets.<\/p>\n

Nonetheless, $80,000 remains an\u00a0increasingly popular\u00a0target among analysts in the short term, with investment research firm Bravo Research further noting that such a drop will present traders with \u201cbuy the dip\u201d opportunities.<\/p>\n\n

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Bitcoin holders with no record of selling their holdings have increased their BTC reserves during the Trump-led market rally. BTC has dropped by over 10% since establishing its record high of around $109,355 on Jan. … Bitcoin’s booming ‘permanent holder demand’ positions BTC price for $116K<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":53045,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651,6],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-53043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","category-information","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nBitcoin's booming 'permanent holder demand' positions BTC price for $116K - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=53043\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin's booming 'permanent holder demand' positions BTC price for $116K - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Bitcoin holders with no record of selling their holdings have increased their BTC reserves during the Trump-led market rally. 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