According to Odaily Planet Daily, Glassnode report shows that the Bitcoin bull market marks the flow of wealth from long-term holders to new investors. Long-term holders have achieved record profits of $2.1 billion per day.
In 2024, Bitcoin holders who held for 6 to 12 months became the main selling pressure, accounting for 38.5% of the profits realized since November, totaling $27.3 billion. Bitcoin held for more than three years was relatively sluggish.
Despite a large amount of profit-taking by long-term holders, new investors provided liquidity to maintain Bitcoin's upward momentum. The current cycle has lower volatility, with the largest drop of 32% in August, lower than the previous cycle.
Increased institutional participation and the launch of spot Bitcoin ETFs drive market stability, ensure liquidity during sell-offs and support price resilience.
