When Bitcoin hits a new high, the "diamond hand" selling pressure is only half of the previous bull market top
According to a new research report from on-chain analytics company Glassnode on May 28th, selling pressure from "diamond hands" is only half of what it was at the previous bull market peak. Bitcoin long-term holders (LTH) continue to resist the urge to take profits - even as BTC prices approach $70,000 and the average profit of LTH wallets is 3.5 times. So far, LTH wallets have not sold BTC at a rate that would make the current bull market unsustainable.
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.
You may also like
Mainnet Node Software Upgrade: ZEN 5.0.7 is Available to Download
Cardano Price News: Will ADA Cross $1 on SEC Verdict Day? ETF Approval Odds Now at 71%
How Token Unlocks Could Shake Up Crypto in June
Why Strategic Reserves Matter in Global Power
Senator Lummis says strategic reserves offer a key geopolitical edge. Here's why they're critical for national security.The U.S. Strategy and Global ImplicationsStrategic Reserves: The New Front Line in Power Politics
Trending news
MoreCrypto prices
More
