Recent Bitcoin (BTC) profit-taking is dominated by newer hodlers, while long-term investors hold steady. Learn why BTC remains resilient despite $550M ETF outflows.
Bitcoin Profit-Taking Hits $2 Billion as New Hodlers Sell
Bitcoin (BTC) experienced a surge in profit-taking, with over $2 billion realized in a single day, according to Glassnode’s latest “The Week Onchain” report. Despite this activity, long-term holders (LTHs) appear less inclined to sell, holding strong through recent price volatility.
Key Insights from Glassnode Analysis
1. New Hodlers Drive Selling Pressure
Coins held for 6 to 12 months accounted for 35.3% of total selling activity.
These investors are likely newer entrants who acquired BTC after significant market events like the launch of U.S. spot Bitcoin ETFs.
Long-term investors—those holding BTC for over a year—continue to hold, potentially waiting for prices beyond $100,000.
2. Institutional Participation
Speculation suggests that the selling may be linked to institutional buyers who entered during the ETF wave and sought short-term profits.
Institutional behavior contrasts with "diamond hands," as newer entrants often lock in gains during price surges.
ETF and MicroStrategy Investors Feel the Pinch
ETF Outflows Reflect Market Sensitivity
The past two trading days recorded $550 million in cumulative outflows from U.S. spot Bitcoin ETFs, according to Farside Investors.
Bitcoin's (BTC) price dropped from $99,000 to $90,800 during this period, signaling the ETFs’ sensitivity to short-term price movements.
MicroStrategy Stock Slump
Business intelligence firm MicroStrategy, known for its large Bitcoin treasury, saw its stock fall 35% in four days following BTC’s price dip.
Despite the decline, MicroStrategy continues to add to its Bitcoin reserves, signaling long-term confidence.
Long-Term Hodlers Remain Resilient
Long-term holders exhibit minimal selling, underscoring their patience for higher valuations.
Glassnode highlights that BTC “real veterans” remain steadfast, with the bulk of selling attributed to newer coins.
What’s Next for Bitcoin?
While short-term corrections and profit-taking are natural in bull markets, Bitcoin’s $100,000 milestone remains within reach. Analysts believe that sustained ETF inflows, increasing adoption, and continued hodler confidence will fuel the next rally.
Bitcoin Resilience Amid Profit-Taking
Despite significant profit-taking by newer investors, Bitcoin’s fundamentals remain strong. Long-term holders and institutional confidence signal that BTC is well-positioned to recover and push toward six-figure valuations, according to Cointelegraph.
