Long-term holders’ sell-off: During the recent price surge, long-term holders sold 507,000 BTC. This amount is lower than the 934,000 BTC spent before the record growth in March 2024.
Record profits and current price: Long-term holders are currently achieving high profits, with daily realized profits at 2.02 billion USD. At this time, Bitcoin is trading at 96,303 USD, up over 3% in the last 24 hours.
Supply adjustment and demand: Glassnode emphasizes that stable demand is necessary to absorb this excess supply, and the process of re-accumulation may be necessary in the future.
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