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The Investor Group Behind the Decline of Bitcoin: Reached 366 Thousand BTC, They Are Not Stopping - Coin Bulletin
According to Glassnode data, long-term investors in Bitcoin created a significant movement in the market by selling with a profit of 71%.
Long-term Bitcoin investors (LTHs) are drawing attention with data indicating increased selling pressure in recent times. According to Glassnode, long-term Bitcoin investors reported a monthly sale of 366,000 BTC, the highest level seen since April 2024.
Especially investors holding between 6-12 months initiated the last selling wave. This group sold an average of 25,000 BTC profitably daily. A large portion of the recent sales were driven by movements from this special group.
Investors holding BTC for 6-12 months had purchased Bitcoin at a cost 71% below the average market price. When Bitcoin rose from $74,000 to $99,000, these investors made significant gains.
The LTH Net Position Change chart, accessible with Glassnode's advanced subscription plan, allows investors to better assess the next major move in the Bitcoin market.
According to CoinGecko data, Bitcoin, which experienced a 4.7% decrease in the last 24 hours, is currently trading at $92,700 at the time of writing.