Bitcoin’s long-term holders are reducing their balances, leading to a significant net change of -21.5K BTC. Although slight selling is happening, low sell pressure may sustain Bitcoin’s upward momentum.
Bitcoin’s price fluctuated between $122,312 and $118,440, showing a daily drop of 2.43%, but maintaining weekly and monthly gains.
Long-term holders (LTHs) are selling less aggressively compared to past bull cycles, indicating a potential shift in market behavior.
Current data reveals LTHs have reduced their realized profits, suggesting selling pressure is easing despite high prices.
Bitcoin news: Long-term holder balances hit cycle lows, but low pressure and shrinking profits could sustain upward momentum.
What is Bitcoin’s Current Market Behavior?
Bitcoin’s current market behavior indicates that long-term holders are gradually reducing their balances, diverging from traditional selling during price rallies. This trend suggests a potential breakdown from historical patterns as sell pressure eases.
Why are Long-Term Holders Selling Less?
Long-term holders have historically sold aggressively during price peaks, but recent data from Sentora shows a steady decline in their balances. This time, the process appears slower, reflecting a shift from typical cycle behavior.
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The decrease indicates that long-term holders are selling fewer Bitcoin, potentially signaling a shift in market dynamics rather than panic selling.
Given their reduced selling rates, long-term holders are likely contributing to price stability, rather than volatility, despite significant price movements.
The current state of Bitcoin shows that long-term holders are changing their selling habits. While balances are declining, low pressure and realized profits also reflect a potential change in market dynamics. Future price movements will depend on how LTHs continue to manage their holdings, impacting Bitcoin’s trajectory.
Source: https://en.coinotag.com/bitcoins-long-term-holder-trends-may-indicate-future-market-shifts-and-impact-price-movements/