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Bitcoin's 100K Rally: Long-Term Holders Cashing In
Summary: Bitcoin's recent surge to $100,000 has sparked discussion among analysts about the behavior of long-term holders (LTHs). According to CryptoQuant, LTHs have been taking profits as the price of Bitcoin has risen, a normal occurrence during a bull market. Data suggests that when Bitcoin reached the $100,000 milestone, the LTH Spent Output Profit Ratio (SOPR) ...
Bitcoin's recent surge to $100,000 has sparked discussion among analysts about the behavior of long-term holders (LTHs). According to CryptoQuant, LTHs have been taking profits as the price of Bitcoin has risen, a normal occurrence during a bull market.
Data suggests that when Bitcoin reached the $100,000 milestone, the LTH Spent Output Profit Ratio (SOPR) climbed to 4. This indicates that LTHs were selling coins that had quadrupled in value since their original purchase.
While some may view this as a bearish signal, analysts at CryptoQuant emphasize that the current level of LTH selling is not extreme and aligns with historical patterns during bull markets.
