According to Glassnode, Bitcoin may be headed for a deeper correction as the cumulative realized profit taking among long-term holders has reached levels seen at the peak of previous market cycles.
Glassnode reports that long-term holders have realised profits on 3.40 million bitcoins, while inflows into exchange-traded funds have slowed, in what they see as signs of "exhaustion" after the Federal Reserve cut interest rates last week.
According to TradingView data, bitcoin prices have now fallen below key support levels around $112,000, touching a four-week low of $108,700 in Coinbase trading late Thursday.
Although bitcoin has not yet fallen back to the $107,500 it hit on September 1, analysts say it may be headed in that direction.
Glassnode: Bitcoin falls to four-week low, on-chain data shows signs of "exhaustion" intensifying
2025-09-26 04:19:44
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