Down to now, long-term holders are still all in profit—Glassnode on-chain data is right here. The old holders’ cost basis is extremely low, and panic selling can’t squeeze out at all; the bottom-lot structure is harder than you’d imagine. But the thicker the profits, the stronger the urge to take profits: next, keep a close watch on the LTH supply—once it declines continuously, it likely means that big whales are quietly distributing. Don’t just stare at the candlestick chart.

$BTC #Glassnode #On-chain data