Since breaking it last week, Bitcoin is grappling with the $100,000 milestone, struggling to stay above this critical level. Despite the price facing resistance, Bitcoin continues to show strength, signaling potential for further upward momentum in the near term. Investors and analysts are watching closely as the market seeks confirmation of its next move.
Data from CryptoQuant highlights an intriguing trend: new investors are stepping in with force. The realized capitalization of coins held by newcomers (those holding for up to one month) has surpassed $343 billion, marking an astounding 909% increase since the start of this bull cycle. This surge underscores the growing appetite for Bitcoin among fresh market participants, even as long-term holders take profits at significant gains.
This dynamic suggests a healthy market rotation. New investors absorb coins sold by long-term holders, providing a foundation for continued demand. Such behavior is typical during late-stage bull runs, where retail and institutional interest peaks, fueling the final phases of a rally.
As Bitcoin consolidates below its all-time high, the focus remains on whether it can establish a foothold above $100,000. The next few days will be crucial in determining whether the bull cycle continues or a correction is on the horizon.
Bitcoin Consolidation Below $100K Continues
Bitcoin has been in a consolidation phase below the $100K level since November 22. Despite breaking above this key psychological threshold, the price has struggled to maintain momentum and continue rising. This price action is likely attributed to long-term holders taking profits at these elevated levels, creating resistance. As these investors realize significant gains, it leaves room for price fluctuations as new buyers enter the market.
However, despite the pause in price action, there are signs that the demand for Bitcoin remains strong. CryptoQuant analyst Axel Adler recently shared data on X revealing that the realized capitalization of coins held by new investors (those holding for up to one month) has surpassed $343 billion, ref
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Author: Sebastian Villafuerte
