Bitcoin Long-Term Holders Accumulate Ahead of Potential $160,000 Surge

CryptoQuant analyst Axel has highlighted a significant trend in Bitcoin's market dynamics, noting that long-term holders (LTH) have consistently increased their holdings before major price surges during the current bull run. This pattern was first observed near the $28,000 mark, where LTHs' holdings relative to short-term holders (STH) increased over a 1-2 month period, ultimately leading to a price breakthrough to $60,000.

Subsequently, a similar accumulation phase occurred during the consolidation around the $60,000 level, providing the momentum for the subsequent surge to $100,000. Currently, at the critical $100,000 level, there is a continued increase in the LTH/STH holding ratio, suggesting that this accumulation phase may last for another 4-8 weeks. According to the analyst's forecast, a strong uptrend is highly likely to follow, with a relatively conservative multiplier of 1.6x indicating a potential target range around $160,000 for the next uptrend.