Report: When Bitcoin hit a new high in this round, the selling pressure of the "diamond hand" was only half of the top of the previous bull market
2024-05-29 15:25:54
On-chain analytics firm Glassnode said in a new research note on May 28 that the selling pressure from "Diamond Hand" is only half of what it was at the top of the previous bull market. Bitcoin long-term holders (LTH) continue to resist the urge to take profits - even as BTC price moves closer to $70,000 and LTH wallets make an average profit of 3.5 times. So far, LTH wallets have not sold BTC at a rate that makes the current bull market unsustainable.
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