Analytics platform Glassnode says one Bitcoin investor cohort is suddenly selling the most BTC for realized gains.
According to the analytics platform, those holding onto Bitcoin between six and 12 months are abruptly locking in massive gains at a rate exceeding all other cohorts, raking in a $904 million profit on Monday.
“Last week, we highlighted how BTC wallets that held greater than 12 months were the primary profit-takers.
But that trend has now flipped. [On Monday]: less than 12 months cohorts accounted for 83% of all realized profit. Six to 12-month holders alone realized $904 million – the second-highest daily profit year to date.”
Glassnode says the same six-to-12-month investor cohort netted more profits two months ago.
“Mid-cycle buyers (six-12 months) stepped up on June 16th with $904 million in realized gains. That’s just behind the April top in terms of daily profits – and shows that Q4’24 buyers are now distributing heavily.”
However, the analytics firm says that the selling of Bitcoin for profits is slowing way down for long-term BTC holders.
“Meanwhile, greater than 12-month holders realized just $324 million, a notable drop from the relentless profit realization in May or even the last week’s peak of around $1.2 billion.
Bottomline: seasoned BTC holders are stepping back for now – and newer coins are now driving market sell pressure.”
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The post This Bitcoin Investor Cohort Locked in $904,000,000 in Realized Gains, Driving BTC Sell Pressure, According to Analytics Firm Glassnode appeared first on The Daily Hodl.
Analytics platform Glassnode says one Bitcoin investor cohort is suddenly selling the most BTC for realized gains. According to the analytics platform, those holding onto Bitcoin between six and 12 months are abruptly locking in massive gains at a rate exceeding all other cohorts, raking in a $904 million profit on Monday. “Last week, we
The post This Bitcoin Investor Cohort Locked in $904,000,000 in Realized Gains, Driving BTC Sell Pressure, According to Analytics Firm Glassnode appeared first on The Daily Hodl. Bitcoin, Trading, BTC, investors, News, realized gains, realized profit
This articles is written by : Nermeen Nabil Khear Abdelmalak
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