⭐Demand meets profit-taking⭐
Bitcoin’s (BTC) ongoing bull market has marked a significant transition of wealth from long-term holders to new investors, according to a recent Glassnode report.
The redistribution of wealth from seasoned holders to newcomers is a hallmark of maturing Bitcoin markets. Long-term holders have been realizing record profits, peaking at $2.1 billion per day, while new investors have stepped in with sufficient demand to absorb this supply.
In 2024, long-term Bitcoin holders — especially those holding coins for six to 12 months — emerged as key contributors to sell-side pressure. These coins, predominantly acquired earlier in the year, accounted for 38.5% of realized profits since November, totaling $27.3 billion.
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