$BTC Bitcoin sell pressure reaches one-month low as long-term holders slow down profit taking
Bitcoin’s on-chain sell-side risk has fallen to less than half its August peak, easing one measure of potential selling pressure even as a large block of older coins remains held at acquisition prices above the market.
Analytics firm Glassnode’s Sept. 9 report, using on-chain observations through Sept. 7, puts its Sell-Side Risk Ratio at 7 basis points per day on a seven-day basis, down from 16 basis points at August’s peak.
Long-term holders also accounted for 47% of realized profit, compared with 88% at the August peak. Older holders are contributing less of the market’s realized profit, although that percentage does not measure their share of all Bitcoin sales.
The Sell-Side Risk Ratio adds on-chain profits and losses and divides the total by realized capitalization. It measures value realization relative to that capital base, indicating potential selling pressure.
#BTC
Bitcoin’s on-chain sell-side risk has fallen to less than half its August peak, easing one measure of potential selling pressure even as a large block of older coins remains held at acquisition prices above the market.
Analytics firm Glassnode’s Sept. 9 report, using on-chain observations through Sept. 7, puts its Sell-Side Risk Ratio at 7 basis points per day on a seven-day basis, down from 16 basis points at August’s peak.
Long-term holders also accounted for 47% of realized profit, compared with 88% at the August peak. Older holders are contributing less of the market’s realized profit, although that percentage does not measure their share of all Bitcoin sales.
The Sell-Side Risk Ratio adds on-chain profits and losses and divides the total by realized capitalization. It measures value realization relative to that capital base, indicating potential selling pressure.
#BTC