The market is gradually absorbing the selling pressure from long-term Bitcoin holders.

BTC2,8%

ChainCatcher Message: Glassnode posted data on social media indicating that the selling speed of long-term Bitcoin holders has slowed down. Net outflows have fallen from extreme levels, suggesting that the market is gradually absorbing the supply from long-term holders, and a large portion of the supply pressure above may have been essentially digested.

View Original
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

Related Articles

Analyst: If the US-Iran conflict persists for months, debt expansion could benefit Bitcoin

Macro strategist Mark Connors stated that if the conflict between the US and Iran continues, increased fiscal spending and debt expansion could benefit Bitcoin. He pointed out that war financing will increase the supply of US dollars, weaken the currency's value, and drive Bitcoin higher. Since the conflict began, Bitcoin has risen approximately 3.6%.

GateNews19m ago

No, Bitcoin Is Not Forming 'Cup and Handle' Pattern to $500,000, Says Peter Brandt - U.Today

Peter Brandt, a veteran market analyst, strongly criticizes the prediction of Bitcoin reaching $500,000, arguing it misinterprets the "cup and handle" pattern. He emphasizes the necessity of proper technical analysis and warns against unwarranted optimism based on flawed interpretations.

UToday1h ago
Comment
0/400
No comments