Bitcoin’s Long-Term Holders Show Record Conviction and Are Not Taking Profits

Description

Long-term holders defy norms by accumulating even as profits hit yearly peaks Spot ETFs drive a new cycle dynamic, reducing traditional sell-off pressure Volatility metrics diverge, hinting at potential sharp moves despite calm derivatives As Bitcoin consolidates around the $108,400 level, on-chain data reveals a market in transition, where record-high retail optimism is clashing with the “atypical” and deeply convicted behavior of long-term holders. This would suggest that historical market pat...