On-chain data shows Bitcoin Long term holders are selling again

On-chain Glassnode data analyzed by CryptoSlate shows that the Revived Supply 1+ Years metric has recently been rising. The Revived Supply 1+ Years metric measures the “total amount of coins that come back into circulation after being untouched for at least a year.”

Long-term holders (LTH) selling is a sign of capitulation and usually happens at the bottom of the market since this cohort of holders (6 months and more) are the strongest. The last time this group sold at the current rate was in June, when Bitcoin dropped to around $17,600. According to on-chain data, 1+ year holders had sold 50,000 BTC, 2-year holders sold almost 40,000 BTC, and 3+ year holders sold almost 30,000 BTC as of last week. https://cryptoslate.com/on-chain-data-shows-bitcoin-long-term-holders-are-selling-again/

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