Long-term holders' divergence
Long-term holders who have held for more than 155 days continue to buy. When we looked last week, there was still a gap of nearly 200,000 BTC between the current long-term holders' purchases and the historical high. However, just a week later, the BTC held by long-term holders is now less than 50,000 BTC away from the historical high.
This data further indicates that recent buyers are not just short-term investors; more long-term investors are buying in. The last time there was a stock of nearly 1.43 million BTC, long-term holders had already started to distribute.
It shows that more long-term holders believe the price has reached a peak, as they began to exit at $62,300. However, now, when the price is only $5,000 away from the historical high, long-term holders are still increasing their holdings rather than choosing to exit.
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