In a remarkable shift, Bitcoin long-term holders added 800,000 BTC in one month, marking a historic high. Compared to previous instances of similar increases, this is noteworthy as only six occurred before. The average cost basis for these new holders indicates a BTC support range of 93,000 USD to 98,000 USD.
The bullish sentiment among long-term holders, holding their coins for at least six months, is robust, suggesting potential upward price movement for Bitcoin. Meanwhile, short-term holders maintain a cost basis just below 100,000 USD, critical for supporting prices during market corrections.
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