Bitcoin long-term holders get $26B boost as BTC price recovers from ‘fairly normal’ 30% correction

Quick Summary:

On the 4-hour chart, the key support zone lies between $90,500 and $88,750, representing a fair value gap. A breach below this range could invalidate the lower time frame (LTF) bullish structure, potentially driving prices toward the next support area between $84,000 and $86,300, where Bitcoin previously consolidated for a week before its strong positive breakout.Bitcoin 4-hour chart.

MNCapital founder, Michael van de Poppe, mentioned that after a massive breakout, it is “fairly normal to have a slight correction”. Likewise, anonymous crypto trader Jelle pointed out that Bitcoin has tested its weekly resistance for now, and BTC may drop as low as $91,000. From a technical perspective, Bitcoin may consolidate between $94,900 and $88,750 in the coming days.

Bitcoin supply in profit market bands signals a bullish outlook, after the total supply in profit increased above the “threshold of optimism”.Currently, 16.7 million BTC in various Bitcoin addresses are in profit.

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Article Details

Author / Journalist: Cointelegraph by Biraajmaan Tamuly

Category: Crypto

Markets: United States

Topics: Correction Increased Price Long-term Profit Bitcoin Market April Breakout Realized Holders

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-24 @ 21:05:15 (3 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 537 words

Reading Time: 3 minutes read

Sentences: 28 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28199493

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

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Coverage Areas: United States

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Publisher ID: #11

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