Glassnode’s data is pretty interesting: the share of supply held by short-term holders that’s in profit has fallen from nearly 100% in late September to around 70%, easing a lot of the selling pressure from short-term profit-takers. That doesn’t mean a rally is imminent—$BTC is hovering around $79,800, while $BNB is also little changed around $739. Both are waiting for tomorrow’s Fed announcement. When the market is grinding sideways, keeping an eye on hard data is more reliable than chasing rallies or sell-offs. #Bitcoin