When Bitcoin hits a new high, the "diamond hand" selling pressure is only half of the previous bull market top
According to a new research report from on-chain analytics company Glassnode on May 28th, selling pressure from "diamond hands" is only half of what it was at the previous bull market peak. Bitcoin long-term holders (LTH) continue to resist the urge to take profits - even as BTC prices approach $70,000 and the average profit of LTH wallets is 3.5 times. So far, LTH wallets have not sold BTC at a rate that would make the current bull market unsustainable.
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