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The blockchain intelligence platform’s report shows long-term BTC holders distributed 507,000 coins since September, representing a substantial release of previously dormant supply. While the amount is lower than the 934,000 BTC sold when the cryptocurrency rallied earlier in the year, it still represents a more aggressive approach. On average, 0.27% of the total LTH supply is being distributed daily, a level surpassed only 177 times in Bitcoin’s entire trading history. Glassnode believes this activity is critical for price discovery, as it is reintroducing large volumes of supply into liquid circulation. In the past, such periods of heightened profit-taking coincided with strong inflow demands, a key component for maintaining upward momentum. A closer examination of the distribution patterns revealed that coins held for six months to one year are behind most of the sell-side pressure. This cohort accounts for at least 35% of total realized profits, which comes to about $12.6 billion. Per Glassnode’s analysis, the coins were mostly picked in 2023, and they reflect a swing-trade approach by investors who took advantage of the impetus that followed the launch of spot Bitcoin exchange-traded funds (ETFs) in January. Conversely, those who have held their coins for longer than a year have been more conservative in their spending, suggesting that more seasoned heads remain optimistic about BTC’s long-term prospects.$BTC

Bitcoin's halving events are among the most influential occurrences in the cryptocurrency market. Scheduled every four years, these events have historically been catalysts for significant price surges. With the next halving expected in 2024, many believe it could pave the way for Bitcoin to finally reach the highly anticipated $100,000 mark. This article explores the mechanics of halving, its impact on Bitcoin’s price, and why 2024 might be the year that propels the cryptocurrency into six-figure territory. $BTC Understanding Bitcoin Halving Bitcoin halving is a programmed event that reduces the reward miners receive for validating transactions and securing the network. Why it happens: The halving is built into Bitcoin's code to control inflation and ensure that the total supply does not exceed 21 million coins. The reward reduction: Each halving cuts the block reward by 50%. In 2009, the reward was 50 BTC per block. After the 2024 halving, it will drop to 3.125 BTC. Scarcity effect: By decreasing the rate at which new Bitcoin enters circulation, halving events create a supply shock, often leading to increased prices as demand outpaces supply. Historical Impact of Halving Events Bitcoin has experienced three halving events so far (2012, 2016, and 2020), and each has been followed by significant price increases: 2012 Halving: Block reward reduced from 50 BTC to 25 BTC. Bitcoin's price surged from around $12 to $1,150 in the following year, marking a nearly 9,500% increase. 2016 Halving: Block reward reduced from 25 BTC to 12.5 BTC. Bitcoin rose from $650 at the time of halving to nearly $20,000 by the end of 2017, a 3,000% increase. 2020 Halving: Block reward reduced from 12.5 BTC to 6.25 BTC. Bitcoin’s price climbed from $9,000 to an all-time high of $69,000 in November 2021, delivering a 666% gain. Why the 2024 Halving Could Be Different While historical trends suggest that halving events lead to bull runs, the 2024 halving comes with unique factors that could amplify its impact: Increased Institutional Interest: Since the 2020 halving, institutional involvement in Bitcoin has grown significantly. The approval of Bitcoin ETFs, adoption by corporations, and increasing regulatory clarity could bring in billions of dollars, further driving demand. Heightened Scarcity: With only 3.125 BTC generated per block after the halving, Bitcoin's annual issuance rate will drop to approximately 0.8%, making it one of the scarcest assets in the world. This reduced supply is expected to intensify the supply-demand imbalance. Global Economic Conditions: Persistent inflation, fiat currency devaluation, and geopolitical tensions have heightened Bitcoin's appeal as a hedge against economic uncertainty. The next halving could act as a catalyst for this narrative, pushing prices higher. On-Chain Metrics Aligning: Key on-chain metrics, such as hash rate, long-term holder accumulation, and exchange outflows, indicate that the market is positioning for a supply shock. Projected Timeline for $100K Post-Halving If historical patterns hold, Bitcoin could see significant price increases within 12 to 18 months after the 2024 halving. Here's a potential timeline: Q2 2024: Halving event occurs, creating a supply shock. Prices may remain stable or rise modestly as the market absorbs the event. Q4 2024: Early signs of a bull market emerge as reduced supply begins to impact liquidity. 2025: Bitcoin potentially crosses $100,000 as heightened demand meets reduced supply. This aligns with the peak of previous cycles, typically occurring 12–18 months after halving. Challenges to Consider While the 2024 halving offers strong bullish potential, several challenges could delay or dampen Bitcoin's rise to $100K: Regulatory Uncertainty: Strict regulations in major markets could slow adoption and create short-term volatility. Macroeconomic Factors: A prolonged global recession or unexpected monetary policy shifts could suppress investor sentiment. Market Saturation: With Bitcoin now a more mature asset, percentage gains may be smaller compared to previous cycles. What Investors Should Do To capitalize on the potential post-halving rally, investors should: Accumulate Early: Buying before the halving could maximize returns as prices often rise leading up to the event. Monitor Metrics: Keep an eye on on-chain indicators, such as exchange balances and whale activity, for signs of a breakout. Diversify: While Bitcoin offers strong potential, a diversified portfolio can mitigate risks from unforeseen market events. The 2024 Bitcoin halving is poised to be a pivotal event, with the potential to drive the cryptocurrency’s price toward $100,000. By reducing new supply and intensifying scarcity, the halving aligns perfectly with Bitcoin’s deflationary narrative. Combined with growing adoption and favorable macroeconomic trends, this event could mark the beginning of a new era for Bitcoin. For investors, understanding the mechanics and implications of the halving is essential to navigating the opportunities and risks that lie ahead. (@Cryptosmith2✍️) $BTC #Bitget.

Bitcoin $2B daily profit-taking involves mostly new hodlers — Research $BTC Bitcoin long-term holders need more than a 10% dip from all-time highs to sell BTC en masse, Glassnode said.$ASI Bitcoin long-term holders locked in over $2 billion in profit in one day — but not everyone is interested in selling BTC. In the latest edition of its weekly newsletter, “The Week Onchain,” analytics firm Glassnode revealed a split between Bitcoin’s “diamond hands.” Bitcoin LTHs “potentially waiting for higher prices” Bitcoin BTC tickers down $92,986 investors saw unrealized profits soar across the board during the recent BTC price surge to almost $100,000. While speculators have fallen victim to various liquidation events, old hands have begun taking risks off the table by cashing in long-held coins. As Cointelegraph reported, Nov. 22 saw a record $443 million of profit realized across the hodler spectrum. While this led to concerns that selling may outpace new capital inflows, including from the United States spot Bitcoin exchange-traded funds (ETFs), Glassnode said that under the hood, the “real” Bitcoin veterans are less interested in reducing their BTC exposure. “Having established a significant uptick in Long-Term Holder profit-taking, we can increase the granularity of this assessment by scrutinizing the composition of the supply sold,” it said. Examining cumulative realized profit delineated by age group, researchers confirmed that profit-taking has broadly been confined to entities hodling coins between six and 12 months. “Coins aged between 6 months and 1 year dominate the prevailing sell-side pressure, accounting for 35.3% of the total,” they reported. “The dominance of coins aged 6m-1y highlights that the majority of spending has originated from coins acquired relatively recently, highlighting that more tenured investors are remaining measured and potentially waiting patiently for higher prices.” One theory about the identity of such investors involves institutional buyers “who accumulated after the ETFs launch and planned to ride only the next market wave higher.” ETF, MicroStrategy investors get reality check The ETFs themselves show continued sensitivity to short-term BTC price fluctuations. Related: Who cares about $100K? 5 Things to know in Bitcoin this week Data shows that the past two trading days have seen combined net outflows of more than $550 million. During that time, BTC/USD fell from near all-time highs above $99,000 to local lows of around $90,800, Cointelegraph Markets Pro and TradingView confirm.

$BTC Bitcoin's halving events are among the most influential occurrences in the cryptocurrency market. Scheduled every four years, these events have historically been catalysts for significant price surges. With the next halving expected in 2024, many believe it could pave the way for Bitcoin to finally reach the highly anticipated $100,000 mark. This article explores the mechanics of halving, its impact on Bitcoin’s price, and why 2024 might be the year that propels the cryptocurrency into six-figure territory. $BTC Understanding Bitcoin Halving Bitcoin halving is a programmed event that reduces the reward miners receive for validating transactions and securing the network. Why it happens: The halving is built into Bitcoin's code to control inflation and ensure that the total supply does not exceed 21 million coins. The reward reduction: Each halving cuts the block reward by 50%. In 2009, the reward was 50 BTC per block. After the 2024 halving, it will drop to 3.125 BTC. Scarcity effect: By decreasing the rate at which new Bitcoin enters circulation, halving events create a supply shock, often leading to increased prices as demand outpaces supply. Historical Impact of Halving Events Bitcoin has experienced three halving events so far (2012, 2016, and 2020), and each has been followed by significant price increases: 2012 Halving: Block reward reduced from 50 BTC to 25 BTC. Bitcoin's price surged from around $12 to $1,150 in the following year, marking a nearly 9,500% increase. 2016 Halving: Block reward reduced from 25 BTC to 12.5 BTC. Bitcoin rose from $650 at the time of halving to nearly $20,000 by the end of 2017, a 3,000% increase. 2020 Halving: Block reward reduced from 12.5 BTC to 6.25 BTC. Bitcoin’s price climbed from $9,000 to an all-time high of $69,000 in November 2021, delivering a 666% gain. Why the 2024 Halving Could Be Different While historical trends suggest that halving events lead to bull runs, the 2024 halving comes with unique factors that could amplify its impact: Increased Institutional Interest: Since the 2020 halving, institutional involvement in Bitcoin has grown significantly. The approval of Bitcoin ETFs, adoption by corporations, and increasing regulatory clarity could bring in billions of dollars, further driving demand. Heightened Scarcity: With only 3.125 BTC generated per block after the halving, Bitcoin's annual issuance rate will drop to approximately 0.8%, making it one of the scarcest assets in the world. This reduced supply is expected to intensify the supply-demand imbalance. Global Economic Conditions: Persistent inflation, fiat currency devaluation, and geopolitical tensions have heightened Bitcoin's appeal as a hedge against economic uncertainty. The next halving could act as a catalyst for this narrative, pushing prices higher. On-Chain Metrics Aligning: Key on-chain metrics, such as hash rate, long-term holder accumulation, and exchange outflows, indicate that the market is positioning for a supply shock. Projected Timeline for $100K Post-Halving If historical patterns hold, Bitcoin could see significant price increases within 12 to 18 months after the 2024 halving. Here's a potential timeline: Q2 2024: Halving event occurs, creating a supply shock. Prices may remain stable or rise modestly as the market absorbs the event. Q4 2024: Early signs of a bull market emerge as reduced supply begins to impact liquidity. 2025: Bitcoin potentially crosses $100,000 as heightened demand meets reduced supply. This aligns with the peak of previous cycles, typically occurring 12–18 months after halving. Challenges to Consider While the 2024 halving offers strong bullish potential, several challenges could delay or dampen Bitcoin's rise to $100K: Regulatory Uncertainty: Strict regulations in major markets could slow adoption and create short-term volatility. Macroeconomic Factors: A prolonged global recession or unexpected monetary policy shifts could suppress investor sentiment. Market Saturation: With Bitcoin now a more mature asset, percentage gains may be smaller compared to previous cycles. What Investors Should Do To capitalize on the potential post-halving rally, investors should: Accumulate Early: Buying before the halving could maximize returns as prices often rise leading up to the event. Monitor Metrics: Keep an eye on on-chain indicators, such as exchange balances and whale activity, for signs of a breakout. Diversify: While Bitcoin offers strong potential, a diversified portfolio can mitigate risks from unforeseen market events. The 2024 Bitcoin halving is poised to be a pivotal event, with the potential to drive the cryptocurrency’s price toward $100,000. By reducing new supply and intensifying scarcity, the halving aligns perfectly with Bitcoin’s deflationary narrative. Combined with growing adoption and favorable macroeconomic trends, this event could mark the beginning of a new era for Bitcoin. For investors, understanding the mechanics and implications of the halving is essential to navigating the opportunities and risks that lie ahead. $BTC

Bitcoin $2B daily profit-taking involves mostly new hodlers — Research $BTC Bitcoin long-term holders need more than a 10% dip from all-time highs to sell BTC en masse, Glassnode said.$ASI Bitcoin long-term holders locked in over $2 billion in profit in one day — but not everyone is interested in selling BTC. In the latest edition of its weekly newsletter, “The Week Onchain,” analytics firm Glassnode revealed a split between Bitcoin’s “diamond hands.” Bitcoin LTHs “potentially waiting for higher prices” Bitcoin BTC tickers down $92,986 investors saw unrealized profits soar across the board during the recent BTC price surge to almost $100,000. While speculators have fallen victim to various liquidation events, old hands have begun taking risks off the table by cashing in long-held coins. As Cointelegraph reported, Nov. 22 saw a record $443 million of profit realized across the hodler spectrum. While this led to concerns that selling may outpace new capital inflows, including from the United States spot Bitcoin exchange-traded funds (ETFs), Glassnode said that under the hood, the “real” Bitcoin veterans are less interested in reducing their BTC exposure. “Having established a significant uptick in Long-Term Holder profit-taking, we can increase the granularity of this assessment by scrutinizing the composition of the supply sold,” it said. Examining cumulative realized profit delineated by age group, researchers confirmed that profit-taking has broadly been confined to entities hodling coins between six and 12 months. “Coins aged between 6 months and 1 year dominate the prevailing sell-side pressure, accounting for 35.3% of the total,” they reported. “The dominance of coins aged 6m-1y highlights that the majority of spending has originated from coins acquired relatively recently, highlighting that more tenured investors are remaining measured and potentially waiting patiently for higher prices.” One theory about the identity of such investors involves institutional buyers “who accumulated after the ETFs launch and planned to ride only the next market wave higher.” ETF, MicroStrategy investors get reality check The ETFs themselves show continued sensitivity to short-term BTC price fluctuations. Related: Who cares about $100K? 5 Things to know in Bitcoin this week Data shows that the past two trading days have seen combined net outflows of more than $550 million. During that time, BTC/USD fell from near all-time highs above $99,000 to local lows of around $90,800, Cointelegraph Markets Pro and TradingView confirm.