Bitcoin
Bitcoin (BTC)
$69,625.00 4.74416
Bitcoin price
Ethereum
Ethereum (ETH)
$3,616.61 4.25334
Ethereum price
BNB
BNB (BNB)
$629.45 4.77502
BNB price
Solana
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$158.82 6.83823
Solana price
XRP
XRP (XRP)
$0.4969720 3.99113
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000230 5.60957
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000136 10.63069
Pepe price
Bonk
Bonk (BONK)
$0.0000305 12.15048
Bonk price
Bitcoin
Bitcoin (BTC)
$69,625.00 4.74416
Bitcoin price
Ethereum
Ethereum (ETH)
$3,616.61 4.25334
Ethereum price
BNB
BNB (BNB)
$629.45 4.77502
BNB price
Solana
Solana (SOL)
$158.82 6.83823
Solana price
XRP
XRP (XRP)
$0.4969720 3.99113
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000230 5.60957
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000136 10.63069
Pepe price
Bonk
Bonk (BONK)
$0.0000305 12.15048
Bonk price
Bitcoin
Bitcoin (BTC)
$69,625.00 4.74416
Bitcoin price
Ethereum
Ethereum (ETH)
$3,616.61 4.25334
Ethereum price
BNB
BNB (BNB)
$629.45 4.77502
BNB price
Solana
Solana (SOL)
$158.82 6.83823
Solana price
XRP
XRP (XRP)
$0.4969720 3.99113
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000230 5.60957
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000136 10.63069
Pepe price
Bonk
Bonk (BONK)
$0.0000305 12.15048
Bonk price
Bitcoin
Bitcoin (BTC)
$69,625.00 4.74416
Bitcoin price
Ethereum
Ethereum (ETH)
$3,616.61 4.25334
Ethereum price
BNB
BNB (BNB)
$629.45 4.77502
BNB price
Solana
Solana (SOL)
$158.82 6.83823
Solana price
XRP
XRP (XRP)
$0.4969720 3.99113
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000230 5.60957
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000136 10.63069
Pepe price
Bonk
Bonk (BONK)
$0.0000305 12.15048
Bonk price
SirWin
SirWin
SirWin

Bitcoin price surge expected as long-term holders rise

bitcoin-price-surge-expected-as-long-term-holders-rise
Edited by
News
Bitcoin price surge expected as long-term holders rise

The largest cryptocurrency by market capitalization, bitcoin (BTC), witnessed a notable drop as news of Silvergate’s shares surfaced. Its price plunged by over $1,000 in just 30 mins on March 3.

On March 4, Silvergate Capital Corp announced the discontinuation of Silvergate Exchange Network (SEN) as its stocks dropped by roughly 59% last week. According to the on-chain intelligence and analytics platform Santiment, Sivergate’s announcement might have been a leading cause of bitcoin’s price plunge.

“As the largest cryptocurrency by market capitalization, bitcoin remains susceptible to further decline, particularly if negative news regarding the crypto sector emerges, like a Sword of Damocles hanging over its head.”

Crypto analitics firm Santiment

Santiment expects a massive market-wide drop if BTC falls below the $19,500 mark, as its price has fluctuated significantly over the past week. 

https://twitter.com/santimentfeed/status/1632611930698559488?t=8_RyN6f0Ewu6KbuBdvRLmg&s=19

On the other hand, the on-chain data provider CryptoQuant believes a bull run might be on the way for the leading cryptocurrency. CryptoQuant analyst Woo Minkyu states that long-term holders “will gradually gain” more control than short-term holders.

https://twitter.com/cryptoquant_com/status/1632622035946950658?t=mr_gjrmzhPRvBjcYYqnZ2A&s=19

Per the data, bitcoin’s price gained a bullish momentum whenever BTC crossed its “realized price.” Minkyu added that the asset’s price has historically surged when the number of long-term holders of one year or more has increased.

According to crypto.news data, BTC is trading at around $22,400 when writing. The flagship crypto asset has a market dominance of 42.3%, with a market cap of roughly $432 billion.

Bitcoin price chart | Source: CoinMarketCap
Bitcoin price chart | Source: CoinMarketCap

The movements and expectations come as research by Galaxy Digital suggests that non-fungible tokens (NFTs) on the bitcoin network could reach the $4.5 billion mark by 2025.