Glassnode: Current BTC long-term holders realize a record daily profit of over $2 billion, but the distribution volume is still relatively small

Odaily Planet Daily Report: glassnode analysis points out that the current long-term holders are realizing daily profits of up to $2.02 billion, setting a new historical high, surpassing the record in March. The market needs strong demand to fully absorb this excess supply, which may require a re-accumulation phase to fully digest. Since the peak of long-term holder supply in September, this group has distributed about 507,000 bitcoins, which is a significant amount, but still relatively small compared to the 934,000 bitcoins distributed during the historical high period in March 2024. An assessment of the composition of the source of the sell-off reveals that most of the selling pressure seems to come from coins held for 6 months to 1 year, indicating that further sell-offs from longer-term holders are still possible, and they may require higher prices to be willing to sell their bitcoins.