Glassnode: Bitcoin long-term holders' selling pressure has eased significantly recently
2024-05-24 14:03:25
On May 24th, Glassnode data showed that Bitcoin long-term holders (LTH) sold off sharply when Bitcoin reached an all-time high of $73,000 in March. However, in recent weeks, this selling pressure has eased significantly and market resistance has reduced, providing more room for bullish sentiment. The LTH binary spending indicator is used to analyze the strength of selling pressure among holders, and the latest data indicates that bulls currently have a better market environment.
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