Glassnode Analyst: Bitcoin’s New High Sparks Selling Pressure from Long-term Holders, Similar to Past Cycles

Glassnode Analyst: Bitcoin's New High Sparks Selling Pressure from Long-term Holders, Similar to Past Cycles

Glassnode Analyst: Bitcoin's New High Sparks Selling Pressure from Long-term Holders, Similar to Past Cycles

The Chief On-Chain Analyst of blockchain analytics firm Glassnode, Checkmate, stated on Monday (8th) on X platform that the Binary Spending Indicator for Bitcoin holders suggests that the current scenario of Bitcoin surpassing its all-time high price appears to be similar to previous cycles when new highs were reached. Long-term holders have started spending their Bitcoin, leveraging the influx of new demand and liquidity.