A crypto analyst reiterates that "some of these" Bitcoiners have been “here for many years,” and $90,000 is the “first target” for profit-taking.
Bitcoiners who have held their coins for over 155 days aren’t all holding out for a six-figure price tag, with some happily taking profits once Bitcoin surpassed $90,000, according to a crypto analyst.
In a Nov. 16 market report, CryptoQuant contributor Percival noted that Bitcoin (BTC) long-term holders (LTH) — addresses holding BTC for 155 days or more — “do not see $90K as an enemy” and are engaging in profit-taking. Before breaking its $73,800 all-time high from March on Nov. 5, Bitcoin’s price had consolidated between $53,000 and $72,000 for almost seven months.
At the time of publication, Bitcoin is trading at $89,945, according to CoinMarketCap data.
