Analysis: Bitcoin price reaches a key selling zone, long-term holders slow down profit-taking

According to CoinDesk, on-chain data from Glassnode shows that Bitcoin has rebounded to the price range that hindered its rise at the end of last year, and the profit-taking behavior of long-term holders has significantly slowed down. These "long-term holders," who have held Bitcoin for more than five months, are currently selling about 12,800 BTC per week to take profits, a pace that is far lower than the weekly sell-off of over 100,000 BTC when prices were above $100,000 last year.

Analysis points out that this slowdown reduces resistance to price rebounds, but this price area has repeatedly suppressed upward momentum over the past few months, and any broader trend reversal will still need to first digest the sell-off from long-term holders. At the same time, escalating geopolitical tensions may lead to increased market risk aversion, posing a downside risk to Bitcoin prices.