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Bitcoin Holders Add $33B: Is a $200K Price Target Now in Sight?

  • Long-term Bitcoin holders have accumulated 300,000 BTC worth $32.9 billion in the past 20 days, demonstrating rising investor confidence and transactions in the crypto world.
  • Spending activity among long-term holders has dropped to its lowest level in eight months, signaling strong belief in Bitcoin's future price strength and potential for an expected price increase.
  • Long-term holders transferring Bitcoin off exchanges is reducing downward price pressure, as decreased miner rewards support market bullishness after the halving.
  • On-chain signals such as surging unique BTC addresses and increased user activity indicate a potential breakout for Bitcoin, with growing optimism for new highs in 2025.

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