According to the latest Glassnode report, the Bitcoin market is experiencing an interesting wealth transfer. Long-term holders are selling Bitcoin to new investors at record profit levels, with daily profits reaching up to $2.1 billion. This wealth redistribution is seen as a sign of market maturity, indicating that the depth and diversity of the Bitcoin ecosystem are expanding.

In 2024, Bitcoin investors holding for 6 to 12 months have become the main source of selling pressure, with the sale of these tokens accounting for 38.5% of the profits realized since last November. However, Bitcoin held for more than three years remains relatively stable, likely requiring higher prices to stimulate its sale.

Nevertheless, demand from new investors remains strong, providing the necessary liquidity to the market and supporting the upward momentum of Bitcoin. Compared to previous cycles, the volatility in this bull market has decreased, with institutional participation and the launch of spot Bitcoin ETFs considered major reasons. These factors ensure liquidity and price stability in the market during sell-off periods.