Krutika Adani
On-chain data reveals that an overwhelming majority of 71% of users hold a long-term view of Bitcoin and have held it for at least a year.
Short-term holders have been sitting on losses recently, which could trigger a small correction in BTC prices soon.
Despite government sell-offs, top analysts are positive that Bitcoin won’t be much affected by them.
Bitcoin's price is expected to remain relatively stable until the US elections, beyond which the results could impact its price in the medium term.
At press time, Bitcoin has crossed the $60k resistance and looks to regain the $65k levels in the near future. On the other side, it enjoys strong support at $58k and $55k.