Bitcoin (BTC) Long-Term Holders Locking Gains: Stability?

After a series of dips, Bitcoin and the crypto sector have surged from 2024 lows in recent weeks.

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Friday's announcement by Federal Reserve System Chairman Jerome Powell of a policy change hinting at a September interest rate decrease boosted momentum. This news has boosted investor excitement and market activity.

Glassnode statistics shows that long-term holders (LTH) earn $138 million each day. What does this indicate for the market later?

Bitcoin price stability depends on daily capital inflows

Despite market uncertainty and volatility, Bitcoin long-term holders (LTH) have been locking in profits for months. The Bitcoin Long-Term Holder Net Realized Profit/Loss data from Glassnode shows LTH selling Bitcoin at $138 million each day. This selling pressure is a key market benchmark, showing how much fresh money must enter Bitcoin everyday to steady the price.

Due to LTH's sales, Bitcoin's price may decline if daily inflows fall short of $138 million. This highlights the delicate balance between buyer demand and LTH's profit-taking.

Bitcoin's price behavior will be especially fascinating in the coming weeks as the market navigates this period. The next big move for BTC depends on whether fresh investor inflows can meet or surpass current selling pressure.

BTC Passes $64,900—Now What?
Bitcoin is presently trading at $64,360 following weeks of severe selling pressure, anxiety, and uncertainty that dropped its price to $49,577 20 days ago.

BTC is flirting with $65,000 after two daily candles closed above the 200-day moving average, a significant indication for bullish or bearish markets.

Bitcoin may be recovering strength, but it must remain above this signal and test it as support to continue the climb.

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