Glassnode said recent Bitcoin buyers have moved out of a heavy sell-pressure zone, with the share of short-term holder supply in profit falling to about 70% from nearly all in late September, according to BlockBeats.
Lower profit share may ease selling pressure
Glassnode said the decline in profitable short-term holdings may reduce profit-taking pressure and improve entry conditions for investors who expect the trend to continue. It also cautioned that the change does not guarantee a future Bitcoin rise.