[Analysis] "Long-term Bitcoin Holders Quietly Buying Amid Market Correction"

Uk Jin

Summary

Cointelegraph reported that as Bitcoin entered a slight correction, long-term holders began additional purchases.
Amr Taha, a contributor to CryptoQuant, noted that during the recent Bitcoin correction, short-term holders experienced liquidation of their long positions.
Long-term holders took advantage of the correction to make additional purchases, with their realized market cap of Bitcoin nearing $28 billion.

Bitcoin (BTC) has recently entered a slight correction after reaching an all-time high, and long-term holders are reportedly taking advantage of this to accumulate more. According to Cointelegraph on the 27th (Korean time), Amr Taha, a contributor to CryptoQuant, analyzed in a report that "when Bitcoin recently fell to $111,000 and $110,000, large long positions were liquidated."

He further stated, "First, long positions worth over $97 million were liquidated at $110,900, followed by $88 million at $109,000."

The contributor explained that during this series of events, the actions of short-term and long-term holders were distinctly different.

He added, "Short-term holders who engaged in investments with excessive leverage suffered the pain of liquidation, while long-term holders seized the gap to make additional purchases," adding that "as a result, the realized market cap of Bitcoin held by long-term holders is nearing $28 billion."