Santiment analysts name conditions for bitcoin’s growth to $ 100,000

Cryptocurrency market analysts from Santiment noted that the drop in bitcoin after halving caused discouragement for trading participants. Experts emphasized that the BTC rate could rise to $ 75,000, $ 100,000, and even higher, but it depends on the behavior of large holders.

The researchers reminded of the many «sleeping bitcoins» — coins stored in investors' wallets and not moved for many years. Analyzing the current situation, the researchers took into account the realized network profit and loss (NRPL). According to them, this indicator shows patterns similar to those observed in the peak periods of 2013, 2017, and 2021.

«In particular, we see the reluctance of whales to record profitability. This trend is obvious. It is noteworthythat neither during the recent attempt to break through the $ 72,000 mark nor during the support test at $ 61,000 did we see significant demand for profit from major players,» the experts explained.

According to the analysts, the positive aspect is that the market has been undergoing an intensive process of asset reallocation over the past 4−5 months. This suggests that it may be preparing for a resumption of the bullish trend. Such a scenario could lead to further growth of quotations during the 12-month cycle, similar to those observed in previous years.