Glassnode: Selling pressure from long-term Bitcoin holders has eased significantly recently
According to news on May 24, Glassnode data showed that long-term Bitcoin holders (LTH) sold sharply when Bitcoin reached an all-time high of $73,000 in March. However, in recent weeks, this selling pressure has eased significantly and market resistance has diminished, providing more room for bullish sentiment. The LTH Binary Spending Indicator is used to analyze the intensity of selling pressure on holders, and the latest data suggests that bulls currently have better market conditions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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