Bitcoin Holders Refuse to Sell Even at $1 Million As Supply Tightens, Prices Consolidate Around $44K
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Over a third of Bitcoin holders surveyed said they would not sell even if prices reached $1 million per BTC. This shows a strong "HODL" mentality among many holders.
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On-chain data indicates more Bitcoin is becoming dormant as holders refuse to sell, putting pressure on supply.
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30% of respondents said they'd sell some BTC at $100k, 19% at $250k, and 14% at $500k. So many are still holding out for higher prices.
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Whales, corporations, and future ETFs will likely have the biggest influence on Bitcoin's price direction.
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Bitcoin held steady around $44k over the past day. There is resistance at $44k but possibly room to move up to the next resistance level around $47k.