The post 10,000 BTC May Soon Hit the Markets, What’s awaited for Bitcoin Price This Week? appeared first on Coinpedia Fintech News

Bitcoin price witnessed a significant jump in the early trading hours that raised the price by nearly 6.5%. The price successfully trades above $16,500 after marking the monthly lows below $15,500, a couple of days before. While the market participants may be slightly relieved with a decent amount of accumulated buying volume, the revival of the bearish may be soon validated. 

The long-term holders usually constantly accumulate the tokens without liquidating them at any point regardless of whether the market is bullish or bearish. Ever since the markets underwent a bull run in 2021, the number of long-term holders has kept on increasing. Moreover, their holdings remain unspent and untouched and hence called dormant.

In a recent update, such dormant addresses have been spreading out their BTC reserves constantly indicating a major bearish event is fast approaching.