Glassnode: Current BTC long-term holders achieve daily profits of more than 2 billion dollars to a new high, and the distribution volume is still relatively small

Glassnode analysis pointed out that the current long-term holders realized profits of up to $2.02 billion per day, setting a new all-time high, exceeding the record in March. The market needs a strong demand side to fully absorb this excess supply, which may require a re-accumulation phase to fully digest.
Interestingly, since the peak of long-term holder supply in September, this group has distributed about 507,000 bitcoins, which, while a significant amount, is still relatively small compared to the 934,000 distributed during the all-time high in March 2024. Assessing the composition of the selling sources found that most of the selling pressure appears to be coming from coins held for 6 months to 1 year, suggesting that further selling from longer-term holders is still possible, and they may need a higher price to be willing to sell their bitcoins.