TechFlow reported on November 26 that data from on-chain analytics platform Glassnode showed bitcoin long-term holders (LTH) experiencing a monthly sell-off pressure of 366,000 BTC, the highest since April 2024. Data indicated that investors who held their bitcoins for 6 to 12 months led the selling wave, averaging 25,600 BTC in daily profitable sales, making them the primary source of recent sell-offs.
Detailed analysis revealed that this group of 6-12 month holders had an average cost basis 71% below the current market price (approximately $57,900). As bitcoin's price rose from $74,000 to $99,000, these investors opted to realize profits.
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