Bitcoin Sell Pressure Eases as Long-Term Holders Slow Down Profit Taking

Bitcoin's on-chain sell-side risk has decreased to its lowest level in a month. According to Glassnode, the Sell-Side Risk Ratio dropped from 16 basis points at August's peak to 7 basis points per day on a seven-day basis as of September 7.

This ratio measures potential selling pressure by dividing on-chain profits and losses by realized capitalization. A lower ratio indicates less selling pressure.

Long-term holders also contributed less to the market's realized profit, with their share dropping from 88% at August's peak to 47%. This suggests that older coins are being held at acquisition prices above the current market value, rather than being sold for a profit.