Long Term Bitcoin Holders Are Cashing Out
As Bitcoin hit all-time highs consistently over the month, many long term holders chased out their gains. As per Galassnode data, with long term holders taking out profits, the selling pressure has been at highest since April 2024. The 6-12 months cohort of long-term holders led the selling activity, averaging 25.6K BTC per day in profits, with most of the recent selling coming from this group of investors.

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