Bitcoin (BTC) is approaching the $100,000 mark as long-term holders are starting to distribute their holdings. This milestone is significant for the cryptocurrency, as it continues to gain traction in the financial world.
As Bitcoin’s price climbs, more investors are looking to cash in on their long-held assets. This distribution by long-term holders is causing a shift in the market dynamics, with more Bitcoin being circulated among traders and investors.
The rise in Bitcoin’s price can be attributed to a variety of factors, including increased adoption and acceptance of the cryptocurrency as a legitimate form of payment. Additionally, the limited supply of Bitcoin – with only 21 million coins ever to be mined – is also driving up demand for the digital currency.
Overall, Bitcoin’s journey towards $100,000 is a testament to its resilience and growing popularity in the financial market. As more people become aware of the benefits of investing in Bitcoin, its price is expected to continue rising in the future.