Bitcoin long-term holders get $26B boost as BTC price recovers from ‘fairly normal’ 30% correction
Bitcoin long-term holders (LTHs) saw a wealth increase in April as the price rose from $74,450 to $94,900, with the realized market cap growing from $345 billion to $371 billion, a $26 billion gain. This increase reflects LTHs' resilience during a 30% correction earlier in the year, consistent with historical patterns following new all-time highs. Bitcoin's decoupling from traditional markets and rising gold prices enhanced its appeal as a store of value. Short-term holders (STHs) returned to profit but many sold at a loss during the drawdown, a trend seen in 2024. Currently, 16.7 million BTC are in profit, indicating a bullish outlook. Analysts predict Bitcoin may consolidate between $94,900 and $88,750, with potential support around $90,500 to $88,750. A breach below this range could lead to further declines toward $84,000 to $86,300.
