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What’s the effect of Bitcoin realizing gains after 4 months
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Bitcoin hit a new all-time high of $67,276 two days ago and since then, something has changed. There has been a marked difference in investors’ behavior from hours before the ATH and hours after it.
In any case, it is playing in their favor as the profits gained from this will not only benefit long-term holders, but also the market in return.
Following the much-awaited ATH breach, long-term holders’ supply has begun declining to indicate that these holders are distributing.
Down by 37k in just 3 days, these investors have sold Bitcoin worth over $2.2 billion.
Bitcoin LTH supply | Source: Glassnode
However, this is not surprising because the market is expecting to sell anyway. This is because for a long time LTHs have been buying into
Read more on ambcrypto.comAbout this in other media
Analysts expect parabolic Bitcoin price move after the ‘last’ resistance at $67K falls cointelegraph.com /2 years ago
Bitcoin retains $65K after Elon Musk sell-off sees BTC pass Tesla market cap cointelegraph.com /2 years ago
Bitcoin price in classic 'Bull Pennant' breakout as BTC whales go on buying spree cointelegraph.com /2 years ago
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