Bitcoin Long-Term Holders Control 16.62M BTC as Analyst Targets $100K Breakout

BTC-4.15%
According to crypto analyst InvestAnswers, Bitcoin is exhibiting signs of a bear market bottom, with long-term holders now controlling 16.62 million BTC—a fresh all-time high suggesting patient investors are accumulating ahead of a potential supply squeeze. The analyst highlighted that Bitcoin has recovered nearly $3,000 since Thursday without significant support from spot Bitcoin ETFs, despite shedding roughly 12% in June. InvestAnswers identified $100,000 as a key level that could reignite momentum across the Bitcoin complex; a reclaim of that price would trigger a significant sentiment shift. At the time of analysis, Bitcoin was trading near $62,162.
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