Long-Term Bitcoin Holders Accumulate 324K BTC, $62K-$65K Emerges as Potential Bear Bottom

BTC-1.88%
According to analyst Murphychen888 reported by BlockBeats on May 5, Bitcoin long-term holders (LTH) net position has increased 324,000 BTC since February 10, with short-term holders reducing holdings by 184,000 BTC over the same period. The analyst noted that LTH net position recovery typically precedes price bottoms, and if no extreme black swan events occur, the $62,000-$65,000 range could mark the bear market bottom. Historical cycles show similar patterns: in 2022, LTH recovery preceded the FTX crash, and in 2019, the $7,000-$9,000 range served as the bottom excluding the March 12 event.
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