Bitcoin’s recent selling pressure has eased, with long-term holders taking fewer profits, according to data from Glassnode cited by CryptoSlate. Glassnode’s seven-day measure declined to 7 basis points, down from a peak of 16 basis points in August. The reading marks a one-month low for the indicator. At the same time, the amount of Bitcoin held at higher price levels changed only marginally, suggesting limited movement in overhead holdings during the period covered. The data provides a snapshot of profit-taking activity among longer-term Bitcoin holders and the supply positioned above the current market level. The report does not provide a price target or forecast for Bitcoin. The development is relevant to BTC market monitoring because long-term-holder selling is a closely watched component of available supply and market pressure.
