Bitcoin in the long run Candidate holders have risen in recent weeks, which has increased the pressure on the market.
On Friday, the alleged patient holders emptied 97000 BTC (Nearly $ 3 billion)The largest long -term sale of the year, which represents the largest part of the last increase in spending activity, according to Glassnode Blockchain analytics.
The moving average jumped for 14 days of coins that their owners spend in the long run to approximately 25,000 BTC, the highest since January.
Glassnode defines their long -term holders as those who have a history of owning coins for more than 155 days.
Bitcoin price fell by more than 3.7 % to $ 108,000 on Friday and continued to decrease to $ 107400 early on Monday. As of the time of writing this report, the cryptocurrency was traded at $ 103330, and it still decreased by 16 % of a record level of $ 124,429, according to Coindsk data.
Note that the profit process is still significantly slower than the nails observed in late 2024.
What pays profit?
Long -term holders have been sold, including the wallets that have been asleep for years, constantly since the outbreak of Bitcoin above $ 100,000 early this year. One of the explanations for this profit can be rooted in investor psychology.
Think about it in this way: How many assets are in global trade at a price of 100 thousand dollars per piece? Perhaps very little you can rely quickly on your fingers. Therefore, it makes sense for investors to feel that $ 100,000 per BTC is very expensive, which causes them to achieve profits.
This also means that the market is likely to take time to adapt to $ 100,000 as the new normal BTC. We can continue to see a wide range trading on the six -time price sign for some time, allowing investors to adapt to this high evaluation.
Read more: “Op_cat is not inventory.” Bruce Liu says at the time that Satoshi’s is paying.
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