So, Bitcoin (BTC) took a little tumble—down 10% since its all-time high of $109,355 on Jan. 20. Coincidentally, that’s the same day Donald Trump took office. Coincidence? Probably. But hey, BTC is still up 60% since his election win in November. 🎉
On-chain data is whispering sweet nothings about Bitcoin’s next big move, even though it’s been stuck below $100,000 like a teenager grounded for the weekend. 🚀
Bitcoin’s “Permanent Holder Demand” is Growing Faster Than Trump’s Twitter Followers
According to CryptoQuant, Bitcoin’s Permanent Holder Demand—basically the metric for long-term investors who HODL like their lives depend on it—has gone through the roof. 🚀
This trend started when Bitcoin was chilling at $67,500 in November 2024 and has since rocketed to record highs in early 2025. 🚀
Accumulator addresses, which belong to investors who sell about as often as Bigfoot shows up at a family reunion, have been gobbling up BTC like it’s free pizza. 🍕
Historically, these “strong hands” tend to sell within a month after accumulating Bitcoin. But this time? Nope. They’re holding on tighter than Trump to his Twitter account. 🐦
What’s different now is that the demand hasn’t dropped back to pre-Trump levels. Instead, it’s bouncing back like a boomerang in February’s correction. Long-term holders are sticking to their guns, and fewer are selling compared to previous cycles. 💪
Trump’s potential Bitcoin reserve and institutional players (ETFs, governments, public-traded companies, etc.) are keeping the momentum alive. 🏦
Bitcoin’s Technicals Are Eyeing $116,000 Like It’s the Last Slice of Pizza
Bitcoin’s been forming a symmetrical triangle pattern, which is fancy talk for “it’s about to make a big move.” According to Titan of Crypto, BTC could break above the triangle’s upper trendline and hit $116,000. 🚀
Analyst DOM spotted an unprecedented Doji candle formation on the BTC daily chart, signaling market uncertainty. It’s like the market is saying, “I don’t know whether to buy, sell, or just take a nap.” 😴
“This signals max indecision and a large move impending.”
Bitcoin’s previous Doji candles in November 2022 were followed by a 620% recovery rally. So, if history repeats itself, we could be in for another explosive move. 💥
Grayscale’s head of research, Zach Pandl, predicts Bitcoin could hit new all-time highs in Q1 2025, thanks to Trump’s policies and stable equity markets. 📈
But don’t get too comfy—$80,000 is still a popular short-term target among analysts. Bravo Research says a drop to that level would be a prime “buy the dip” opportunity. 🛒
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2025-02-10 21:16