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Bitcoin
Bitcoin (BTC)
$95,510.00 -0.15988
Bitcoin price
Ethereum
Ethereum (ETH)
$3,579.82 -1.18335
Ethereum price
BNB
BNB (BNB)
$675.26 5.68879
BNB price
Solana
Solana (SOL)
$226.94 1.48627
Solana price
XRP
XRP (XRP)
$2.55 -5.85692
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000282 -3.3498
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000198 -1.48113
Pepe price
Bonk
Bonk (BONK)
$0.0000411 -2.75765
Bonk price
dogwifhat
dogwifhat (WIF)
$3.16 3.52985
dogwifhat price
Popcat
Popcat (POPCAT)
$1.39 18.70767
Popcat price
Bitcoin
Bitcoin (BTC)
$95,510.00 -0.15988
Bitcoin price
Ethereum
Ethereum (ETH)
$3,579.82 -1.18335
Ethereum price
BNB
BNB (BNB)
$675.26 5.68879
BNB price
Solana
Solana (SOL)
$226.94 1.48627
Solana price
XRP
XRP (XRP)
$2.55 -5.85692
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000282 -3.3498
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000198 -1.48113
Pepe price
Bonk
Bonk (BONK)
$0.0000411 -2.75765
Bonk price
dogwifhat
dogwifhat (WIF)
$3.16 3.52985
dogwifhat price
Popcat
Popcat (POPCAT)
$1.39 18.70767
Popcat price
Bitcoin
Bitcoin (BTC)
$95,510.00 -0.15988
Bitcoin price
Ethereum
Ethereum (ETH)
$3,579.82 -1.18335
Ethereum price
BNB
BNB (BNB)
$675.26 5.68879
BNB price
Solana
Solana (SOL)
$226.94 1.48627
Solana price
XRP
XRP (XRP)
$2.55 -5.85692
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000282 -3.3498
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000198 -1.48113
Pepe price
Bonk
Bonk (BONK)
$0.0000411 -2.75765
Bonk price
dogwifhat
dogwifhat (WIF)
$3.16 3.52985
dogwifhat price
Popcat
Popcat (POPCAT)
$1.39 18.70767
Popcat price

Bitcoin nears $90k, long-term holders wake up

bitcoin-nears-90k-long-term-holders-wake-up
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Markets
Bitcoin nears $90k, long-term holders wake up

Bitcoin’s rally after the U.S. elections continues as the total crypto market cap reaches a new all-time high.

Bitcoin (BTC) reached an ATH of $89,604 early on Tuesday with a market value of $1.77 trillion. The leading crypto asset saw a gentle drop as long-term holders started to make movements. 

BTC is trading at $88,400 at the time of writing. Its daily trading volume keeps growing — currently at $133 billion.

Bitcoin nears $90k, long-term holders wake up - 1
BTC price, dormant circulation and MVRV ratio | Source: Santiment

According to data provided by Santiment, Bitcoin’s two-year dormant circulation increased by 130% over the past day, reaching 13,589 BTC. Addresses holding the digital gold for over three years also skyrocketed 154%, moving 8,235 BTC in 24 hours.

The recent Bitcoin ATH pushed its MVRV ratio to 178%, according to Santiment data. The indicator shows that the average BTC holder is seeing a 178% profit at this price point.

The last time the two and three-year dormant Bitcoin circulation surged together was Aug. 29. This, consequently, pulled the asset’s price down from $60,000 to $54,000 within a week as long-term holders took profits, data from the market intelligence platform shows.

Triggering market-wide push again

Bitcoin’s latest rally brought positive sentiment to the broader sector again. 

The global crypto market cap increased by 4.7% in the past 24 hours and is currently sitting at an ATH of $3.11 trillion, according to data from CoinGecko.

Moreover, the cryptocurrency market witnessed a $765 billion surge over the past week. 

Per a crypto.news report on Monday, crypto-related investment products saw their highest year-to-date inflows, worth $31.3 billion. The total amount of assets under management reached $116 billion.

This shows increased interest from both institutional investors as the market turned green following Donald Trump’s win in the U.S. presidential election.