CryptoQuant analyst Axel Adler Jr. noted that, as of September 20, the 30-day supply change for Bitcoin long-term holders decreased by 21,700 BTC, a significant narrowing compared to the 105,900 BTC decline recorded on August 30, indicating easing selling pressure among long-term holders. During the same period, Bitcoin’s price rose 5.6% to $81,200 over one week, but the Long-Term Holder Spent Output Profit Ratio (LTH-SOPR) declined from 1.096 to 0.994, suggesting that the Bitcoin transferred during this time were, on average, moved at a slight loss. It is important to note that a decrease in supply only indicates that the associated Bitcoin have been moved, not necessarily sold.
Bitcoin long-term holder supply outflows slowed to 21,700 BTC over 30 days.
TechFlowShare
Summary
Bitcoin long-term holder supply outflows slowed to 21,700 BTC over 30 days as of September 20, down from 105,900 BTC on August 30, according to Axel Adler Jr. of CryptoQuant. During the same period, BTC price rose 5.6% to $81,200, but the LTH-SOPR dipped to 0.994, indicating transfers occurred at a slight loss. The supply reduction reflects movement, not sales. Traders are also monitoring altcoins amid shifting market dynamics.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.