“Cruisers” accumulate BTC amid volatility

The recent drop in the price of the leading cryptocurrency prompted “cruisers” to reinforce their BTC positions.

Since mid-December 2024, long-term investors (“cruisers”) of Bitcoin (BTC) began to accumulate the cryptocurrency again, despite the recent market volatility. The data indicates a 7.04% increase in the balances of these wallets, suggesting renewed confidence in the future of Bitcoin.

According to data from INTOTHEBLOCK, long-term investors, known as "cruisers," increased their Bitcoin balance sheet from 4.61 million BTC to 4.93 million BTC / TradingView

Increase in Bitcoin accumulation

According to data from INTOTHEBLOCK, long-term investors, known as “cruisers,” increased their Bitcoin balance, going from 4.61 million BTC to 4.93 million BTC in recent weeks. This 7.04% increase in their positions reflects a positive trend in a context of market uncertainty.

Price correction and its impact

The price of Bitcoin, which reached an all-time high of $108,353, experienced a significant correction. It hit a low of $91,530.45 on December 30. This cut came after the announcement of a new interest rate by the US Federal Reserve, set at 4.50% by Chairman Jerome Powell. The expectation of fewer cuts in 2025 could strengthen the dollar, which traditionally weakens the cryptocurrency market.

Long-term market confidence

Despite the price drop, cruiser investors seem to have taken the opportunity to accumulate more BTC. Over the past year, their accumulation increased by 18.19%, reaching a total of 4.4 million BTC in their wallets. This behavior contrasts with the notable decrease in the balance on cryptocurrency exchanges, which currently hold only 2.20 million BTC. The outflow of 30.01 thousand BTC from exchanges on December 31 adds to a total outflow of 89,340.07 BTC in the last 30 days. This indicates a shift towards greater confidence in the cryptocurrency.

Current Price Analysis

At the time of this report, the price of Bitcoin stands at USD 96,985.92. Despite the recent correction, the asset remains above the EMA50, suggesting a bullish sentiment in the medium term. However, for Bitcoin to test its all-time highs again, it will need to break through the USD 99,500 barrier.

The behavior of long-term investors in Bitcoin shows a clear accumulation strategy amid market volatility. As confidence in this cryptocurrency strengthens, the door is opened to a promising future for "cruisers" who hold their positions for the long term.

Disclaimer:
This article is for informational purposes only and should not be considered financial advice. Investing in cryptocurrencies involves risks and thorough research is recommended before making investment decisions.