Glassnode: Bitcoin Buyers Holding for Less Than a Year Become Major Source of Selling Pressure, While Long-Term Holders Opt to Stand By

According to the latest observations by blockchain data analysis firm Glassnode, wallets holding Bitcoin for less than 12 months are currently the main profit-takers in the market, accounting for 83% of all realized profits, while holders with longer holding periods are opting to wait.

Source: Glassnode

Glassnode pointed out that mid-term buyers holding for 6 to 12 months realized $904 million in profits on June 16, marking the second-highest single-day profit record of the year, and indicating that buyers from the fourth quarter of last year are currently selling off Bitcoin in large quantities. Meanwhile, investors holding for over 12 months only realized $324 million in profits, which represents a significant decline compared to the ongoing profit-taking wave in May or the single-day profit level that reached $1.2 billion last week.

Source: Glassnode