Glassnode: Bitcoin long-term holder/short-term holder supply ratio drops sharply, showing signs of profit-taking

This article is machine translated
Show original

According to Foresight News, glassnode data shows a significant decline in the Bitcoin long-term holder/short-term holder supply ratio, with the 30-day change rate shifting from accumulation to distribution, indicating early signs of profit-taking in the market. After months of steady inflow from long-term holders and price increases, this may mark a turning point in the market. This indicator is worth monitoring to determine whether the trend is reversing.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments