Editor's PiCK
"Bitcoin (BTC) Long-term Holder Addresses Realize More Profits Than in Bull Markets"
JH Kim
Summary
- On-chain analytics firm Glassnode reported that Bitcoin (BTC) long-term holder addresses have realized more profits than in most previous bull markets.
- They stated that the only time long-term holders realized larger profits than now was during the 2016–2017 bull market.
- Glassnode noted that profit realization by long-term holders points to increasing selling pressure and suggests that the market has entered the late stage of the cycle.
On the 26th (local time), on-chain analytics firm Glassnode stated on X (formerly Twitter), "Bitcoin (BTC) long-term holder addresses have already realized more profits than in most previous bull market cycles."
According to Glassnode, the only period when long-term holders realized larger profits than now was during the 2016–2017 bull market.
Glassnode also analyzed, "Profit realization by long-term holders indicates increasing selling pressure," and added, "Considering this along with other indicators suggests that the current market has entered the latter stage of the cycle."
As of 00:22 on the 27th, BTC is trading at $110,380 on the Binance Tether (USDT) market, down 1.79% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
