Long-Term Holders Stop Selling, But Bitcoin Market Remains Uncertain

Bitcoin's price has been affected by the selling activities of long-term holders. Data from Glassnode shows that these investors spent August selling into strength, leaving a mark on the market.

The handover of coins to newer buyers is significant, as one level now decides whether they stay in profit or not. Long-term holders sold more Bitcoin near $80,000 compared to when it was at an all-time high of $122,000, indicating potential missed profits.

However, the selling has slowed dramatically toward September, with short-term holder supply in loss dominating for nine months peaking above $600 billion.

The flip from losses to profit is under pressure as BTC drifted lower, with profit falling to $168.2 billion and losses climbing back to $102.6 billion.