Bitcoin is entering what many consider the most pivotal week of this market cycle, not due to the looming U.S. election or the Federal Reserve’s upcoming interest rate decision, but because it’s on the brink of breaking all-time highs. If BTC crosses this milestone, it will enter “price discovery” mode, potentially sparking a massive rally across the entire crypto market.

This bullish anticipation is supported by data from CryptoQuant analyst Maartunn, who highlighted that Bitcoin Long-Term Holders sold an impressive 177,617 BTC in the last seven days.

This wave of selling from seasoned holders often signals a bullish phase, indicating they’re taking profits ahead of a potential market shift. This positioning aligns with BTC’s momentum near its peak, suggesting that many see current prices as ideal to lock in gains, possibly making room for fresh buyers and new demand.

With BTC so close to all-time highs, any upward breakout could shift the entire market’s sentiment and initiate a substantial bullish rally, marking this week as a critical period for BTC and the broader crypto landscape.

Bitcoin Entering The Bull Run Phase 

Bitcoin is entering the final phase of this cycle as it approaches all-time highs and flirts with uncharted territory. This pivotal moment has drawn significant attention from analysts and investors alike. 

CryptoQuant analyst Maartunn recently shared the Balance Change by Time Held chart, revealing that BTC Long-Term Holders (LTH) sold 177,617 BTC in the last seven days. This chart illustrates the movement of older BTC, typically owned by investors with a long-term perspective.

Long-Term Holders are generally less impact

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Author: Sebastian Villafuerte