The post Long-Term Bitcoin Holders Shift Strategies Amid Selling Pressure and Market Adjustments appeared on BitcoinEthereumNews.com.

Bitcoin’s ongoing mid-range trading has seen long-term holders increasingly cashing in, signifying a shift in market dynamics. Market indicators reveal a notable change in seller behavior, suggesting potential hurdles for BTC’s near-term price stability. A key observation from COINOTAG highlighted that while long-term holders are selling, ultra-long-term holders remain steadfast, potentially influencing market resilience. Bitcoin trading shows long-term holders selling while ultra-long-term investors hold steady, shaping current market dynamics and price movements. Long-term holders begin selling Bitcoin Recent data from Glassnode indicates a marked trend among long-term Bitcoin holders who are actively engaging in profit-taking. This change does not include “Ultra Long-Term Holders” who remain committed to their investments, having held their BTC for over seven years. Digging deeper, long-term holders—identified as those possessing BTC for over six months—have decreased their holdings by about 10%, dropping from over 60% to closer to 50% as evidenced in recent analytics. This shift in BTC ownership dynamics is reshaping the interactions within the market. In the initial stages of a Bitcoin cycle, long-term and ultra-long-term holders generally dominate ownership. Nevertheless, with the elevation in selling pressure, the balance is increasingly adjusting. As more short-term holders enter, their collective influence grows stronger, while the market currently resides in an early to mid-range phase. Long-term holders losing interest in BTC The declining interest among long-term Bitcoin holders is becoming more pronounced, particularly among those within various holding timeframes, such as 1–2 years and 3–5 years. This trend became particularly evident after these holders accumulated BTC during the previous bear market session from June to November. The data shows that the 3-5 year holding cohort has seen a reduction, with their share peaking at 15.3% but now resting at 13.9%, raising concerns regarding potential future price drops should selling pressures prevail. In contrast to earlier market…

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Filed under: News - @ December 12, 2024 4:17 am