Glassnode on X reports a rise in long-term holder profit-taking, coinciding with Bitcoin slipping below the $100,000 mark to roughly $98,000. The uptick in LTH selling may have amplified recent downside pressure.
Despite strong buying from ETPs, corporations and institutions, Bitcoin is drifting lower as long-term holders—so-called HODLers—are taking profits after years of accumulation, creating selling pressure. Chris Kuiper, CFA, highlighted this dynamic in an analysis shared on X.