There has been a notable behavioral shift between long-term ETH holders and long-term BTC holders. While long-term BTC holders are selling, ETH counterparties continue to accumulate with momentum coming from upcoming spot Ethereum ETFs.

Data from crypto tracker IntoTheBlock has highlighted the differences between these two groups of investors, with Bitcoin hodlers stepping up profit-taking as total crypto market capitalization recovers from a slump. recently while ETH hodlers have been resolutely HODLing. 

Typically, when long-term holders exit positions and take profits, it is a sign that they are not confident the price will increase in the future, and this is happening with Bitcoin.

In the case of Ether, long-term holder behavior shows that they believe in the altcoin's profitability potential. 

Long-term hodler behavior. Source: TradingView

The Ethereum ETF is about to launch trading, and profits from staking and restaking opportunities could be the catalyst that drives the potential profit thesis. 

Eric Balchunas, senior ETF analyst at Bloomberg predicts spot Ether ETF inflow/volume could account for 20% of the Bitcoin spot ETF size – considered a success by “usual ETF standards” after Visually compare the market share of Ether with Bitcoin in different geographies.

Source: Balchunas


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