Glassnode: Falling Profit Share Among Bitcoin Short-Term Holders Could Favor Buyers
Photo: TheCoinrise
On-chain data shows fewer recent buyers sitting on gains, a pattern Glassnode links to reduced selling pressure. Glassnode's latest on-chain analysis shows that the percentage of Bitcoin short-term holders sitting on unrealized profit has fallen to roughly 70%. Short-term holders are typically defined as wallets that have held coins for less than 155 days. Their profitability is often used as a gauge of recent buyer sentiment and potential selling behavior. A drop in this metric suggests that a larger portion of recently acquired Bitcoin is now near or below its purchase price.
Source: TheCoinrise
