"Bitcoin (BTC): Low Selling Pressure from Long-Term Holders"

JH Kim

Summary

Bitcoin (BTC) has entered the latter stage of the bull market, but it was assessed that selling pressure from long-term holders is low.
According to Glassnode data, while some long-term holders are realizing profits, their overall holdings are actually increasing.
It was reported that the selling pressure is being offset by institutional investors with a strong tendency to hold long term and the influence of U.S. BTC spot ETFs.

On the 11th (local time), the cryptocurrency-focused media outlet Cointelegraph reported that although Bitcoin (BTC) has entered the latter stage of the bull market, selling pressure from long-term holders (LTH) remains low.

Citing data from Glassnode, the outlet stated, "Long-term holders who have held BTC for more than 155 days are realizing profits with a daily net gain of up to $930 million," adding, "Nevertheless, their BTC holdings continue to increase."

It continued, "While some LTHs are selling, even more BTC is transitioning into long-term holding status, which offsets the selling pressure," and explained, "This trend is mainly driven by institutional investors with a strong tendency to hold long term and by U.S. BTC spot Exchange-Traded Funds (ETFs)."

Furthermore, it analyzed, "This differs from the usual pattern in the late bull market, where long-term holders start realizing profits and their holdings decrease."