On-chain data suggests the selling pressure from the Bitcoin miners and HODLers has been drying up, a sign that could be positive for the asset.
Bitcoin LTHs Stop Selling, While Miner Distribution Slows Down
As explained by analyst James Van Straten in a post on X, two BTC groups in particular have been a source of major sell-side pressure in the market recently: the long-term holders (LTHs) and miners.
The LTHs refer to the investors who have been holding their coins since more than 155 days ago. These holders are considered the resolute side of the sector, as they rarely sell regardless of whatever is going on in the wider market.
The rally to the new all-time high this year, however, managed to entice even these HODLers into selling their coins and harvesting the profits that they had earned over their long holding time.
According to Straten, though, the selloff from these investors has petered out recently. “LTHs have been relatively flat for the past few weeks, as B
We współpracy z: https://bitcoinist.com/bitcoin-miner-hodler-selling-pressure-drying-data/
