Glassnode: Long-term holders have transferred approximately 25,000 BTC to exchanges for profit-taking in the past two days

Glassnode data shows that there is a difference in behavior between long-term holders (LTH) and short-term holders (STH) in the Bitcoin market, with LTH holding Bitcoin for over 155 days starting to transfer BTC to exchanges. This trend began when BTC dropped from $30,000 to $26,000 in July 2023, roughly equivalent to the past 155 days. During this period, LTH who invested transferred approximately 25,000 BTC worth about $1 billion to exchanges on January 17th and 18th, indicating their desire for profit-taking. It is worth mentioning that these LTHs do not seem to be selling their holdings at a loss. In contrast, STHs who hold Bitcoin for less than 155 days exhibit more unstable behavior. They transferred BTC worth up to $2.4 billion at a loss to exchanges on January 18th, indicating an increase in trading activity level.