Glassnode: Current Bitcoin long-term holders realize over $2 billion in daily profits, setting a new all-time high

ChainCatcher news, Glassnode analysis indicates that the profits realized daily by long-term holders have reached as high as $2.02 billion, setting a new all-time high, surpassing the record from March. The market requires strong demand to fully absorb this excess supply, which may necessitate a re-accumulation phase to fully digest.

Since the supply of long-term holders peaked in September, this group has distributed approximately 507,000 bitcoins. Although this is a considerable amount, it is still relatively small compared to the 934,000 bitcoins distributed during the historical high in March 2024. An assessment of the composition of the sell-off sources reveals that most of the selling pressure seems to come from coins held for 6 months to 1 year, indicating that further selling from longer-term holders is still possible, as they may require higher prices to be willing to sell their bitcoins.