[Analysis] Decline in long-term Bitcoin holders' holdings…"Profit-taking increases around $100,000"
Minseung Kang
Summary
- On-chain indicators indicate that selling pressure from Bitcoin long-term holders is rising again.
- Glassnode reported that the supply of long-term holders is rapidly decreasing and the Net Position Change is moving into negative territory.
- They explained that amid bullish momentum, profit-taking by long-term holders is intensifying around the $100,000 level.
On-chain indicators show that selling pressure from Bitcoin (BTC) long-term holders is rising again.
On the 13th, on-chain analytics firm Glassnode (glassnode) said on X (formerly Twitter), "The supply held by Bitcoin long-term holders (Long-term Holders·LTH) is rapidly decreasing, and the Net Position Change is moving into a clearly negative zone." This is analyzed as long-term holders realizing profits and selling at recent price levels.
Glassnode explained, "As bullish momentum defends the $100,000 level, LTHs are increasing profit-taking activity."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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