Bitcoin Transitions into Digital Gold: Long-Term Investors Flock in

Bitcoin is experiencing a significant shift in investor sentiment, transitioning from a speculative asset to a more stable form of investment known as ‘digital gold’. Cryptoquant analyst Baykus reveals that since July 2024, over 550,000 BTC have been withdrawn from trading platforms, signifying a growing preference for long-term holding rather than short-term speculation. This trend points to Bitcoin gaining stability and value, potentially driving its price further upwards. Currently, institutional investors known as ‘whales’ are yet to fully enter the market. However, their gradual participation might signal the start of a major bull run.