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Bitcoin (BTC) Price: Long-Term Holders See $26 Billion Boost During April Recovery
Bitcoin long-term holders have seen a significant increase in their collective wealth, with the cryptocurrency’s price surge to $94,900. This massive recovery has resulted in a whopping $26 billion boost for these investors.
As Bitcoin entered into a 30% correction between January and early April, it was only a matter of time before the market would correct itself. Historically, such drawdowns are typical after new all-time highs, as seen in patterns from 2013, 2017, and 2021. This consolidation phase allowed long-term holders to maintain their positions while short-term investors took profit, leading to an influx of buying activity.
Market sentiment has shifted positively with the recent rally amid optimism over reduced tariffs and a boost in confidence that the Federal Reserve will maintain its independence. The cryptocurrency market has been volatile lately, making Bitcoin an attractive alternative for those seeking to diversify their portfolios.
While some investors may be abandoning traditional assets such as stocks in favor of riskier investments like Bitcoin due to the weakening U.S. dollar and global economic uncertainty.
Source: https://blockonomi.com/bitcoin-btc-price-long-term-holders-see-26-billion-boost-during-april-recovery/
