Bitcoin Surpasses $65,000 Amid Strong Buying Sentiment

The net position of long-term holders has turned positive. BTC has converted its previous resistance level into support.

Azcnews Bitcoin Surpasses $65,000 Amid Strong Buying Sentiment

Bitcoin has successfully surpassed the $65,000 mark, fueled by growing investor confidence and prevailing market optimism. In addition to new buyers, long-term holders are re-entering the market, signaling a resurgence of the dominant cryptocurrency.

Purchase Bitcoin!

Data from Santiment indicates that Bitcoin traders are regaining confidence, as reflected in the trading volume metrics on social media, particularly in buying activities.

Specifically, there has been a notable surge in social media purchase volumes, indicating heightened interest and activity from buyers. On July 15, the buy sentiment score reached approximately 117, surpassing the social media sell volume, which stood at around 92 for the same period.

Glassnode Studio_bitcoin Long Term Holder Net Position Change
Glassnode Studio_bitcoin Long Term Holder Net Position Change

This disparity between buy and sell volumes suggests the current market sentiment is skewed towards buying, with more participants opting to purchase BTC rather than sell.

This trend highlights the growing fear of missing out (FOMO) across the market, as traders and investors rush to capitalize on Bitcoin’s upward momentum. Such movements typically contribute to sustaining and potentially accelerating price increases as demand significantly outpaces supply.

Related: Binance Launches Optimism-Powered Layer-2 Network

Bitcoin Welcomes Long-Term Holders Back

Recent data from Glassnode on the net position change of long-term Bitcoin holders provides compelling evidence of the current bullish trend for this cryptocurrency. Previously, this metric was negative, indicating that long-term holders were reducing their positions—essentially, they were selling more than they were buying.

This net selling trend persisted for much of the month, contributing to a pessimistic sentiment among seasoned investors. However, there has recently been a significant shift in this dynamic. The trend has reversed, and the metric now shows a positive value.

According to the latest analysis, the net position change is nearly 13,000. This positive shift indicates that long-term holders are accumulating Bitcoin once again. This trend signals renewed confidence in Bitcoin’s potential for future price appreciation. The accumulation phase by these experienced investors is often a strong bullish indicator.

BTC Breaks Through the $65,000 Mark

Btc Chart
Btc Chart

Additionally, this is the first time in nearly a month that Bitcoin has surpassed the short-term moving average (the yellow line), which previously acted as resistance within this price range. Despite a slight dip, the price remains above the short-term moving average, indicating that the yellow line may now serve as support. This shift from resistance to support could signal potential stability or further price appreciation if Bitcoin maintains its position above this crucial level.

Love

0.0/5

Love

Latest

Whales Dump Xrp Can Ripple Still Aim For The $5 Breakout

News | Altcoin | Editor Choice

Whales Dump XRP: Can Ripple Still Aim for the $5 Breakout?

XRP faces a defining moment as whales unleash massive sell-offs, leaving investors anxious over whether the token will rocket to $5 or crash back down to $2.

Bnb Surges After Trump Pardons Cz, Traders Shout “up Only”

News | Altcoin | Editor Choice

BNB Surges After Trump Pardons CZ, Traders Shout “Up Only”

BNB’s price surged right after U.S. President Donald Trump pardoned Binance founder Changpeng Zhao, fueling a wave of excitement and speculation that the long-awaited “altcoin season” may be about to begin.

Satoshi Era Bitcoin Whale Awakens After 14 Years

News | Bitcoin | Editor Choice

Satoshi-Era Bitcoin Whale Awakens After 14 Years

A “Satoshi-era” Bitcoin whale has suddenly awakened after more than 14 years of silence, sparking a wave of speculation about the real motive behind its move of 150 BTC worth tens of millions of dollars.

Bunni Dex Shuts Down After $8.4 Million Hack

News | Altcoin | Editor Choice

Bunni DEX Shuts Down After $8.4 Million Hack

After suffering a devastating $8.4 million hack, decentralized exchange protocol Bunni DEX has officially announced its shutdown. This marks the second crypto project to fold in October, following Kadena Organization’s recent decision to halt operations amid mounting difficulties. The $8.4 Million Exploit: How It Happened The attack occurred on September 2, when a hacker exploited

The Crypto Etf Wave Hits, Over 200 Funds Set To Launch Soon

News | Editor Choice | Policy & Regulations

The Crypto ETF Wave Hits, Over 200 Funds Set to Launch Soon

Crypto ETF Explosion: The market is on the verge of a massive wave of investment products, with 155 ETF filings currently awaiting approval — spanning 35 digital assets from Bitcoin and Ethereum to even political meme coins.

Screenshot 2025 10 20 091338