Glassnode: Most long-term Bitcoin investors are still unwilling to sell at the current price
According to the latest report released by Glassnode, since its low point in 2022, Bitcoin's price performance has been astonishingly similar to previous cycles. Although the recovery speed is slightly slower, it is more resilient. Despite a slight increase in outflows of tokens held by long-term holders after ETF approval (related to GBTC), most long-term Bitcoin investors are still unwilling to sell Bitcoin at current prices. The vast majority of Bitcoin holders "seem to be calmly riding the market waves". In terms of entities, network activity remains low, but the amount of currency transferred on-chain, especially those transferred to trading platforms, remains strong and resembles previous bull market cycles.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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