According to Odaily Planet Daily, a Glassnode report indicates that the Bitcoin bull market marks a transfer of wealth from long-term holders to new investors. Long-term holders are realizing record profits, reaching $2.1 billion daily.
In 2024, Bitcoin holders with a holding period of 6 to 12 months have become the main selling pressure, accounting for 38.5% of profits realized since November, totaling $27.3 billion. Bitcoin held for more than three years remains relatively stagnant.
Despite long-term holders taking significant profits, new investors are providing liquidity, sustaining the upward momentum of Bitcoin. The current cycle has reduced volatility, with a maximum decline of 32% in August, lower than previous cycles.
Increased institutional participation and the launch of a spot Bitcoin ETF are driving market stability, ensuring liquidity during sell-offs and supporting price resilience.
