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CryptoQuant: Bitcoin Long-Term Holders Profit Taken Reached a Bottom Lower Than Before, Accumulation Trend Dominates Market
BlockBeats News, August 15th, CryptoQuant analyst Axel Adler Jr posted a message stating that the cumulative distribution of long-term holders holding Bitcoin for six months to two years shows that the supply they occupy has increased from 3.551 million BTC in April (when the Bitcoin price was $83,000) to the current 5.191 million BTC, a growth of 1.64 million BTC. During the ATH test at $118,000, there was a moderate profit-taking, and the 7-day average outflow of long-term holders rose to 20,000 BTC, significantly lower than the past typical outflow peaks (40,000 to 70,000 BTC). Overall, this indicates that in the current market, the Bitcoin accumulation trend is more dominant compared to profit distribution.
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