Bitcoin Is Showing Signs Of Exhaustion, Glassnode Says
The post Bitcoin Is Showing Signs Of Exhaustion, Glassnode Says appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) price has dropped to a four-week low as long-term holders sell and institutional demand weakens. Bitcoin’s recent price action has caught the attention of traders around the world. The cryptocurrency has now dropped to a four-week low, after slipping to around $108,700 according to Glassnode. Analysts say the market is showing signs of exhaustion after weeks of strong inflows and profit-taking by long-term holders. Long-Term Holders Take Profits as Bitcoin Stumbles Long-term holders have started cashing out their Bitcoin holdings and have realised around 3.4 million BTC in profits. This surge in selling activity coincided with the US Federal Open Market Committee’s recent rate cut, which initially pushed prices to $117,000 before the decline started. Bitcoin’s current realised cap | source-Glassnode Glassnode reported that these holders have been distributing about 122,000 BTC per month. This wave of selling has come just as institutional demand slowed. Exchange-traded fund (ETF) inflows fell from 2,600 BTC per day to nearly zero on a seven-day average. This alone has left the market vulnerable. The profit-taking trend has made it difficult for short-term holders to maintain Bitcoin above its cost basis near $110,000. Breaking below this level could also trigger further stop-loss selling and deepen the correction. Market Exhaustion Rises Glassnode’s latest data shows that Bitcoin is entering a cooling phase. The firm described the recent move as a classic case of “buy the rumour, sell the news” after the Fed’s rate cut. This cycle has been different from previous ones. Instead of a single prolonged wave of inflows, there have been three distinct multi-month surges since November 2022. Each surge has come alongside heavy profit-taking. Over 90% of coins moved during these periods were sold at a profit, which is one of the biggest signs of a cyclical peak. Analysts are…
Filed under: News - @ September 26, 2025 11:27 pm