According to data from the crypto analysis firm Glassnode, during the recent Bitcoin 
$95,064 surge, long-term holders sold over 500,000 Bitcoin. However, the supply from these long-term holders peaked in September. The firm’s new analysis indicates that this period parallels previous cycles.
Bitcoin Sales and Supply Dynamics
Overall, long-term holders have sold 507,000 BTC ($89,511.00) since the peak. Nevertheless, Glassnode emphasized that this amount is lower compared to the 934,000 Bitcoin spent prior to the all-time high rally in March 2024. This situation highlights a shift in market dynamics.
The analysis firm noted that long-term holders are achieving record levels of profit. It reported that this group has set a new record with realized profits of $2.02 billion daily. This level surpasses the previous record established in March.
The Role of Long-Term Holders in Price Discovery
“Long-term holders play a significant role in the pri...
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