ChainCatcher message: As the price of Bitcoin rises, the 14 million BTC held by long-term holders have all entered profit status, triggering an acceleration of sell-off activities. Since the historic peak was surpassed, the balance of Bitcoin in the market has decreased by more than 200,000.

When prices are strong and demand is high, long-term holders begin to take profits, with ETFs playing a key role in absorbing over 90% of the selling pressure during this process. However, as unrealized profits reach extreme levels, more long-term holders are expected to accelerate their selling, with the volume of sales in the short term exceeding the inflow of ETFs.

Despite this, a significant amount of Bitcoin is still held by long-term holders, who may be waiting to release more Bitcoin at higher prices. 📈💰