Bitcoin’s Recent Recovery Sparks Investor Interest
Bitcoin has once again been under the spotlight with a recovery of 12% in just the last 3 days. Investors are now showing renewed interest in the bullish outlook for Bitcoin ahead. Consequently, Bitcoin whales are leading the charge in holding BTC, with most of them retaining their holdings for over 155 days or more. These holders are looking for further accumulation amid Bitcoin’s positive outlook.
Accumulation activity has triggered new hope in the broader crypto market. Since April 6, Bitcoin’s Long-Term Holder Net Position Change has turned positive for the first time in six months. This serves as evidence that BTC holders are not just holding but also buying more, and all these activities potentially signal a bullish Bitcoin outlook.
Source: CryptoQuant
Burak Kesmeci, an analyst from CryptoQuant, pointed out that this specific metric had been negative since late October, marking months of distribution and doubt. That stretch of selling hit rock bottom on December 5, slashing the coin’s price by 32%. However, according to Kesmeci, the wind is changing.
“While it’s too early to say definitively, the growing positive momentum in this metric could be a sign that long-term conviction is returning to the market,” said Burak.
BTC Breaks Above $81,800
This renewed conviction isn’t just theory—it’s already showing results. The surge in long-term holders accumulating BTC has pushed the price over a key level of $81,800. At the time of writing, Bitcoin is trading at $84,500, marking a 2% gain in the last 24 hours. This price push aligns closely with the timing of increased LTH accumulation, representing a 12% increase since the accumulation began.
Source: TradignView
Another piece of this bullish puzzle is Bitcoin’s funding rate. At 0.0046%, the positive number indicates that long traders are paying short traders, a setup that often appears when the market anticipates higher prices. This kind of funding setup typically points to confidence among more aggressive traders. They are willing to pay extra because they expect to recover their costs—and more—if BTC continues to climb.
If retail traders join the wave and demand rises further, Bitcoin could break through the current ceiling and aim higher. Market watchers are now eyeing the $85,000 mark, and possibly even $87,700, as a realistic near-term target.
Momentum Builds or Breaks: What’s Next?
Nevertheless, optimism has a fragile side. If long-term holders decide to lock in their recent gains, this upward momentum could stall. A pullback below $81,800 is possible, with a potential drop toward $74,500. That scenario would signify a serious shakeout, especially for those who entered the market late.
However, as it stands, the numbers are pointing upward. The Long-Term Holder Net Position Change being in the green again is a powerful signal, indicating that those with the most patience—and arguably the most insight—are placing their bets on a rally, not a retreat.
The months of selling that began in late 2023 may be over. With long-term believers stepping back in and buying, the question now is whether the rest of the market will follow their lead. If they do, the next chapter for Bitcoin could begin above $85K, not below it.