Long-Term Holders (LTH) have distributed a significant amount of BTC at a profit, increasing short-term selling pressure. This trend is clearly reflected in the Long Term Holders SOPR indicator.

Additionally, the Long Term Holders NUPL Heatmap reveals that these holders’ addresses remain in extreme profit levels since late 2023. This increases the likelihood of further profit-taking, as seen at the beginning of 2024 and again now.

It’s important to note that this distribution phase by Long-Term Holders can extend over several months, as observed in all previous cycles. This underscores their strategy of capitalizing on bullish cycles to move and realize profits from BTC held inactive for over 155 days. It’s an excellent approach, as it increases the chances of selling BTC at high prices with substantial profit margins.

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