Analytical company Glassnode has announced that BTC has entered the euphoric stage amid the renewal of the all-time high.

Investors who bought Bitcoin at the 2023 low have started to lock in profits. Since the end of November 2023, the Bitcoin holdings of long-term investors have decreased by 660k BTC. In turn, speculators and short-term holders increased their holdings by 810k BTC.

According to Glassnode analysts, past growth cycles #Bitcoin have also seen a reduction in the number of coins at the disposal of long-term investors. The decline ranged from 14-25% and created pressure to sell the cryptocurrency as the value increased. Earlier, Glassnode pointed out that the growth dynamics of BTC repeats the periods of the past market cycles of 2013-2017 and 2017-2021. However, the cryptocurrency market is still at the beginning of a new bullish trend.

I would also like to add that a correction is currently taking place in the market, on BTC so far, which is >10%. But it is also possible to expect a correction of 20-30%. But in my opinion, it will be more likely if BlackRock will reduce the number of assets in #BTC‬ .

And so that you are aware of all the events, subscribe to my channel and read past posts. Thank you)