CryptoQuant analysts said that long-term bitcoin holders (LTH) began to profit after BTC broke through the $100,000 mark. CryptoQuant data showed a significant increase in the "long-term holders spend output profit" ratio (LTH-SOPR), which measures the profit level of long-term bitcoin investors by comparing the selling price of bitcoin to the price they originally paid.
Julio Moreno, head of research at CryptoQuant, said: "Long-term holders (LTHs) have been taking profits as the price of Bitcoin has risen above $100,000, as shown by the rise of LTH SOPR to 4, indicating that the tokens sold by long-term holders have achieved a profit of four times their original purchase price. However, this is a normal phenomenon during the Bitcoin bull market, and profit taking is still far from extreme levels."
CryptoQuant: Profit selling by long-term BTC holders is a normal phenomenon in a bull market, far from reaching extreme levels
2024-12-05 19:25:15
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