Santiment named the conditions for BTC growth above $100,000

Market analysts from Santiment noted that the Bitcoin (BTC) halving has passed and this has caused a little despondency for trading participants. In addition, their opinions regarding future price movements were divided. Experts emphasized that the BTC rate could rise to $75,000, $100,000 and even higher, but this depends mainly on the behavior of large holders.

Researchers recalled the huge number of “sleeping bitcoins”. These are coins that are stored in the owners’ wallets and have not been moved for many years.. When analyzing the current situation, the researchers took into account network realized profits and losses (NRPL). They say the metric shows patterns similar to those seen during the peak periods of 2013, 2017 and 2021.

“In particular, we see the reluctance of whales to fix profitability. This trend is obvious. It is noteworthy that neither during the recent attempt to break through the $72,000 mark, nor during the test of support at the $61,000 level, we did not see significant demand for profit from large players,” the experts explained.

According to analysts, the positive thing is that the market has been in an active process of asset redistribution over the past 4-5 months. This suggests that he may be preparing for a resumption of the bullish trend.. This scenario could lead to further price increases on a 12-month cycle similar to those seen in past years.

You can see from the metrics that there has been a mixed bag of Bitcoin buyers lately.. Mostly coins were accumulated in small holders. The whales turned out to be not so active. According to the researchers, the future of BTC varies depending on the overall investment strategy, portfolio size and risk tolerance of each trader. “Instead of focusing on predictions, it is better to ask the right questions and analyze the data,” Santiment concluded.