Bitcoin Long-Term Holders Sell 1.1 Million BTC Amid Profit-Taking
Recent on-chain data indicates that Bitcoin long-term holders (LTHs) have sold approximately 1.1 million BTC, suggesting significant profit-taking as prices exceed $100,000.
Key Points
- Long-term holders have shifted their supply to short-term holders due to recent selloffs.
- LTHs recorded higher profit-taking compared to losses, a trend consistent with previous bull runs.
- The increase in short-term holder supply corresponds with the LTHs' selling activity.
- Market absorption of LTH profit-taking is crucial for maintaining price stability.
- Bitcoin currently trades around $105,100, reflecting over 2% growth in the past week.
