Bitcoin: Conviction Buyers Hit Record High

Bitcoin holders with diamond hands ramped up accumulation in Q1, pushing supply held by conviction buyers to 3.60M BTC from 2.13M BTC—a sharp 69% jump despite a 22% price decline.

ARK Invest Spotlights Long-Term Holder Surge

ARK Invest's latest data reveals this conviction buyer spike mirrors patterns from the Covid drawdown, where long-term holders scooped up BTC during dips. Accumulation intensified into February's lows, turning perceived risk into opportunity amid broader crypto market crash vibes. This echoes cycles where steadfast investors absorb supply, setting the stage for rebounds in Bitcoin bear market phases.

Technical Confluence Signals Bullish Continuation

Price action on the 4-hour chart screams controlled bullish momentum—BTC tests upper volatility resistance at $80243.33 while the MACD flashes a golden cross with a 676.59 reading, confirming trend strength above the EMA200 support at $74880.17. RSI sits neutral at 65.21, avoiding overbought extremes, but confluence with the EMA50 at $77970.4 as immediate support hints at a quick pullback to that level before resuming the grind higher, much like past BTC price prediction setups where volatility bands cap short-term exhaustion without derailing the macro uptrend. Traders eye this setup for entries, especially as hype around Bitcoin integrations with projects like TAO fuels long-tail SEO buzz on accumulation trends.