- Analysts have noted that long-term investors are not selling their BTC holdings through the dip.
- On-chain analysts observe that Illiquid Bitcoin supply has hit an all-time high.
- MicroStrategy CEO states that the price of Bitcoin in the long run is irrelevant.
Traders fear an imminent Bitcoin bear cycle as the asset’s price drops below $43,000. On-chain analysts are bullish on BTC, confident in end-of-year predictions.
Investor predicts an inflow of $1 trillion in Bitcoin
Kevin O’Leary, Canadian TV personality, businessman and investor, recently stated that there is “another trillion dollars worth of buying” in Bitcoin. O’Leary shared plans to increase his crypto exposure to 7% by the end of 2021, a 133% rise.
Though the asset has plummeted and dropped below $50,000, on-chain analysts continue to remain bullish on BTC.
@_Checkmatey_, a lead on-chain analyst at market intelligence platform Glassnode, observed that the illiquid supply of Bitcoin (BTC held in cold wallets off of exchanges) has hit an all-time high. Historically, this indicates that investors prefer holding BTC rather than selling and taking profits, a bullish outlook for Bitcoin.
I know it is forbidden to post anything bullish on #Bitcoin right now, but I'm gonna do it anyway.
Illiquid supply is at an all-time high
Liquid supply is demonstrating maturation as coins from $30k-$40k grow grey beards
Highly Liquid supply is at a multi-year low. pic.twitter.com/n2Uttg4oXC— _Checkmate ⚡checkonchain.com (@_Checkmatey_) September 22, 2021
