Bitcoin Surpasses $118,000 Amid Reduced Selling Pressure, Long-Term Holders on Standby: Glassnode

Despite Bitcoin reaching a new all-time high of $118,000, profit-taking sales by long-term holders appear to be limited. According to an analysis released by Glassnode on July 11, the Long-Term Holder Net Unrealized Profit/Loss (LTH-NUPL) stands at 0.69, below the overheated threshold of 0.75. In contrast to the previous cycle, where the indicator exceeded 0.75 for 228 days, this time it has remained around 30 days.

The Long-Term Holder Net Unrealized Profit/Loss (LTH-NUPL) is an analytical metric provided by Glassnode, which measures the unrealized profits or losses of coins held by long-term holders (addresses that typically hold for more than one year)...