The post Price of Bitcoin Drops from ATH as Long-Term Holders Realize Profits; Glassnode appeared on BitcoinEthereumNews.com.

The price of Bitcoin topped a record $111,800 in May, before retracing sharply to below $105,000. This rapid retreat followed a wave of profit-taking by investors who held coins for more than 12 months. The latest Week On Chain report from Glassnode shows realized profits surged to $1.47 billion per day, marking the fifth major distribution event of this cycle. The scale of these outflows now tests critical support levels near $103,700 and $95,600, as seasoned holders shift from accumulation to selling. Glassnode: Profit-Taking by Veteran Holders Glassnode’s latest report highlights that cohorts holding Bitcoin for over a year led to this profit realization. Long-term holders contributed the majority of the $1.47 billion in daily gains taken off the table. By contrast, short-term traders accounted for just $0.32 billion in realized profits per day. BTC Realized Profits by Age| Source: Glassnode This divergence underscores a maturing market, where veteran investors shape price tops rather than rapid speculators. The CBD (Cumulative Volume Delta) Heatmap reveals key price bands that once served as accumulation zones now act as distribution zones. Cumulative Volume Delta Heat Map|Source: Glassnode Historical ranges at $25,000–31,000, $38,000–44,000, and $60,000–73,000 show heavy sell pressure. Those levels supported the price of Bitcoin, helping it to rise but have reversed roles as earlier buyers seize gains. The flip of these zones suggests supply may outweigh demand until deeper support emerges. On-chain cost-basis models identify $103,700 and $95,600 as the next critical floors. The 0.95 Spent Supply Distribution (SSD) quantile—representing the top 5% of coins being spent—sits at $103,700. Breaching of this level could trigger accelerated selling. The 0.85 quantile at $95,600 may then serve as a secondary buffer. Meanwhile, the Short-Term Holder (STH) cost-basis averages $97,100 for coins held under 155 days. Its +1 standard deviation band lies at $114,800, aligning…

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Filed under: News - @ June 6, 2025 8:27 am