Bitcoin

Grayscale Bitcoin Trust

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-surges-above-50000-long-term-holders-start-to-sell" rel="noopener noreferrer nofollow">Bitcoin Surges Above $50,000: Long-Term Holders Start to Sell</a><br></p>
<p style="text-align: justify">As <a href="https://en.bitcoinhaber.net/crypto-excitement-blackrocks-bitcoin-investment-and-etf-prospects" rel="noopener noreferrer nofollow">Bitcoin</a> soars past the $50,000 mark, its highest value in recent years, long-standing investors are beginning to reap the rewards of their patience and confidence in the digital currency. Despite being 28% below its peak, Glassnode’s insights reveal a swift decline in the quantity of Bitcoin held at a loss, now standing at a mere 13%.</p>
<h2 id="investor-strategy-shifts-with-rising-bitcoin-prices">Investor Strategy Shifts with Rising Bitcoin Prices</h2>
<p style="text-align: justify">New analysis suggests a strategic shift among veteran Bitcoin investors, particularly within the Grayscale Bitcoin Trust (GBTC), where around 148,000 BTC have been traded since last November. The actions hint at profit-taking and adjustments in investment portfolios.</p>
<p style="text-align: justify">The decreasing amount of Bitcoin held at previously higher levels as market values approach the 2021 high suggests many investors are seeing profits. This could indicate a phase where these long-term holders might begin to sell off part of their holdings.</p>
<h2 id="gbtc-s-influence-on-bitcoin-s-long-term-investment-patterns">GBTC’s Influence on Bitcoin’s Long-Term Investment Patterns</h2>
<p style="text-align: justify">Before the introduction of spot Bitcoin Exchange-Traded Funds (ETFs), speculative trading had surged, prompting numerous steadfast Bitcoin holders to engage in trading. The supply balance of Bitcoin amongst long-term investors has witnessed a drop of about 299.5 thousand BTC since November, bringing the total down to 14.996 million BTC.</p>
<p style="text-align: justify">The GBTC data is pivotal, having received over 661,000 BTC in 2021 and characterized as ‘long-term holder’ supply. However, with an outflow of approximately 151.5 thousand BTC from GBTC, the remaining 148,000 BTC suggests a spread of holdings among these investors as the value nears its historic high.</p>
<p style="text-align: justify">Despite a recent price correction due to profit-taking, investor morale is buoyant. Michael Saylor, MicroStrategy’s co-founder, attributes the price uplift to the launch of spot Bitcoin ETFs, which have seen a demand surpass the available supply, with a ratio of ten to one compared to miner output. Bitcoin’s price has increased by 1.86% in the past day, currently trading around $51,000, after a brief dip following the release of US inflation data.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-surges-above-50000-long-term-holders-start-to-sell" rel="noopener noreferrer nofollow">Bitcoin Surges Above $50,000: Long-Term Holders Start to Sell</a></h5>

Bitcoin Surges Above $50,000: Long-Term Holders Start to Sell

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