So far, profit taking among long-term holders is occurring at the most significant rate in bitcoin’s history, according to Glassnode data. “This indicates that long-term holders from the 2021-2022 cycle are capitulating, spending and redistributing their coins, specifically during the last three months,” the firm wrote in a blog post.
Market Wrap: Bitcoin Traders Take Some Profits Ahead of Fed Meeting; Expect Higher Volatility – CoinDesk
