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Bitcoin Climbs 1% to Test $120,000 for First Time Since August

Bitcoin Climbs 1% to Test $120,000 for First Time Since August

Bitcoin's price surpasses $120,000 for the first time since August, as short-term holders stabilize and long-term selling cools, pointing to a possible new accumulation phase.

BTC

Summary

Bitcoin's price rose 1% to exceed $120,000, marking its highest level since August. The stabilization of short-term holders and a decrease in long-term selling suggest a shift toward accumulation, fueling investor optimism for potential new all-time highs.

Terms & Concepts
  • BTC: Abbreviation for Bitcoin, the first and largest cryptocurrency by market capitalization.
  • All-Time High: The highest price ever reached by an asset in its trading history.
  • Price Action: The movement of an asset’s price over time, often analyzed to identify trends and make trading decisions.