Anthony Pompliano, CEO of Professional Capital Management, stated on Monday that selling pressure on Bitcoin (CRYPTO: BTC) appears to be easing, pointing to on-chain data from Binance Research.
‘Sustained Long-term Holder Conviction’
In a video posted on X, Pompliano cited four key data points to back his thesis.
First, he noted that nearly 60% of Bitcoin has not moved in a year, a significant increase from 27% in 2012. This, according to him, was an indication of Bitcoin becoming more “illiquid” over time, in turn pointing to a “sustained long-term holder conviction.”
Secondly, he highlighted the short-to-long-term realized value ratio, which is currently sitting deep in its “historical bottom zone. A low ratio indicates that long-term investors are moving more value compared to short-term speculators, often marking ideal long-term accumulation zones in bear markets.
Thirdly, Pompliano …
