Bitcoin HODLers stay bullish despite breakdown below $80K – What now?
The post Bitcoin HODLers stay bullish despite breakdown below $80K – What now? appeared on BitcoinEthereumNews.com. Bitcoin has continued to struggle, with the asset recently dropping below the $80,000 support level it had consolidated around for at least 12 days. Structural signals are building to support a bullish outlook on the chart, but liquidation risk in the perpetual market is throwing up meaningful short-term headwinds that traders cannot dismiss. HODLers hit a 14-month high Long-term holders, the group of investors known to hold Bitcoin [BTC] for at least 155 days without selling, could prove central to Bitcoin’s performance from this point. The Bitcoin HODL Bank, which measures the unrealized profit level among Bitcoin holders, has reached a 14-month high at the time of writing. This means holders are increasingly locked into their positions and selling minimally. Source: Alphractal That is not all. Historically, surges to this level have reflected strong bullish conviction