CryptoQuant: New BTC demand is shrinking, long-term holders' sell-offs are not being absorbed by the market
ChainCatcher news, CryptoQuant Head of Research Julio Moreno published an analysis on what is different about this round of Bitcoin long-term holder (LTH) selling. He stated that it is normal for Bitcoin long-term holders to sell during a bull market. When the price reaches a new high, long-term holders usually take profits. The key is whether the demand for Bitcoin is increasing and whether it can absorb the selling at higher prices.
For example, from January to March and from November to December 2024, as demand increased (green areas), long-term holders' selling also increased, and the price reached new all-time highs. However, since October this year, long-term holder selling has increased, but new demand has been shrinking (red areas), making it impossible to absorb the supply at higher prices.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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