The recent Bitcoin price surge has triggered a strong wave of profit-taking from long-term holders (LTHs). According to Glassnode, LTHs have realized daily profits of up to $2.02 billion, reaching an all-time high.

- Since September, LTHs have distributed 507,000 BTC, re-supplying a large amount to the market. This is crucial for price discovery, as strong demand can sustain the upward momentum.

- Analysis shows that selling pressure primarily comes from those holding for 6 months to 1 year, accounting for 35% of profits.

- Bitcoin peaked near $100,000 before dropping to over $96,000. The price range below $88,000 may be a weak point if demand decreases.

Glassnode warns that for BTC to sustainably exceed $100,000, the market needs to absorb the current selling pressure. 📈