Recent findings from the crypto analysis firm Glassnode reveal a significant trend involving long-term Bitcoin holders. During the latest surge in Bitcoin prices, these holders have sold more than 500,000 BTC. Interestingly, the peak in supply from this group occurred in September, mirroring patterns seen in previous market cycles.
How Much Bitcoin Have Long-Term Holders Sold?
In total, long-term holders have divested themselves of 507,000 BTC since reaching their peak. Glassnode pointed out that this figure is notably lower than the 934,000 Bitcoin sold before the all-time high in March 2024, indicating a shift in the market’s behavior.
Are Long-Term Holders Affecting Price Trends?
According to Glassnode, long-term holders contribute significantly to the price discovery process by reintroducing previously dormant supply into the market. This group tends to become more active as Bitcoin prices increase, further influencing market dynamics.
Key insights regarding this trend include:
- Long-term holders achieved daily realized profits of $2.02 billion, surpassing previous records.
- Current Bitcoin trading stands at $96,303, reflecting a 3% increase over the last day.
- A solid demand is crucial to absorb the excess supply effectively.
The ongoing adjustments by long-term holders are reshaping Bitcoin’s liquidity and market demand. Glassnode is keeping a close watch on whether this trend persists and how it may influence future market conditions.