Long-Term Holders Secure $138M Daily As Bitcoin Market Shows Mixed Signals

In recent months, Long-Term Holders (LTH) have been consistently locking in around $138 million in daily profits despite turbulent market conditions.

This steady flow of profits underscores the ongoing supply and demand dynamics, where each transaction involves a buyer and a seller, with price adjustments balancing these forces.

This $138 million daily sell-side pressure from LTHs suggests a significant amount of capital is required each day to absorb this supply and keep prices stable.

Amidst tumultuous market conditions as of late, Long-Term Holders have been locking in a reasonably consistent $138M in profit per day. With each transaction, a buyer and a seller are matched, with supply and demand imbalances resolved via price changes.

Therefore, we can infer… pic.twitter.com/tSAXvF9Rc1

— glassnode (@glassnode) August 23, 2024

Although market conditions have been volatile, Bitcoin prices have remained relatively flat over the past few months, indicating a potential equilibrium is forming.

Bitcoin’s demand growth has slowed markedly and recently turned negative. Since early April, when apparent demand was nearing $70,000, there has been a noticeable decline.

Bitcoin demand growth remains low and has recently turned negative.

Bitcoin Apparent demand has slowed significantly since early April when it was near $70K.

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