BTC Holders

We are seeing some indications of profit taking by BTC holders over the last several weeks. Although still up significantly over the past few months, accumulation addresses have declined slightly since the end of September and have plateaued most recently, according to data from Glassnode. This indicates some investors have been moving (assumes selling) their BTC at these recent high price levels. The balance held in accumulation addresses investors currently stands approximately 3% below that of late September, further confirming this profit taking.

Long-Term Holder Supply

According to Glassnode data, long-term holder supply has also pulled back since hitting all-time highs with the launch of the BTC futures ETFs, suggest some selling by these types of investors. This has recovered in the last several days, however, and we are now nearly back to the prior peak levels.

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