TechFlow news, May 22 — According to a recent report from on-chain data analytics platform Glassnode, when Bitcoin hit a new all-time high yesterday, the realized profit was only $1 billion, less than half of the $2.1 billion recorded in December last year during its first breach above $100,000. Coin age distribution data shows that short-term held Bitcoin (held for less than 1 month) has increased from 44.6% in December last year to 76.9%, while long-term held Bitcoin (held for over 6 months) has declined from 24.7% to 13.4%. The analysis suggests that the current market is primarily driven by short-term traders, while long-term holders are showing stronger conviction in holding, a combination that may indicate sustained bullish sentiment among lower-speculation Bitcoin investors.
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