tl;dr
The digital asset analytics firm Glassnode reports that the selling of Bitcoin by long-term holders is being absorbed by buyers, reducing volatility. Long-term holders are re-accumulating BTC after waves of selling, stabilizing price action. Additionally, those approaching long-term holder status ar...
The digital asset analytics firm Glassnode has reported that the selling of Bitcoin by long-term holders is being absorbed by buyers, resulting in reduced volatility. Long-term holders are re-accumulating BTC after waves of selling, stabilizing price action. Additionally, those approaching long-term holder status are increasingly hesitant to sell, indicating market strength.
Bitcoin holders with coins held for three to six months are selling at the lowest levels in nearly four years, suggesting relative market strength. At the time of writing, Bitcoin is trading at $85,151, up 2.3% in the last 24 hours.
According to Glassnode, long-term holders, defined as those holding their coins for more than 155 days, are starting to re-accumulate BTC after a second wave of selling, contributing to reduced volatility on the price chart. The firm suggests that this cyclical balance may be stabilizing price action as it absorbs the sell-side pressure.
Glassnode also highlights that Bitcoin holders transitioning into long-term holder status are showing a sharp rise in wealth held, signaling conviction rather than capitulation. Additionally, the selling of Bitcoin by holders with BTC held for three to six months has reached its lowest level in nearly four years, reinforcing the idea that recent top buyers are holding their positions rather than exiting, despite recent volatility.
Image Source: Glassnode/X
Bitcoin is trading for $85,151 at the time of writing, up 2.3% in the last 24 hours.
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