๐๐ป๐ฎ๐น๐๐๐ ๐ช๐ฎ๐ฟ๐ป๐: ๐๐ผ๐ป๐ด-๐ง๐ฒ๐ฟ๐บ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐๐ผ๐น๐ฑ๐ฒ๐ฟ๐ ๐ฆ๐๐ฎ๐ฟ๐ ๐ง๐ฎ๐ธ๐ถ๐ป๐ด ๐ฃ๐ฟ๐ผ๐ณ๐ถ๐๐ โ ๐๐ฟ๐ฒ ๐ง๐ต๐ฒ๐ ๐ฆ๐ฒ๐ฒ๐ถ๐ป๐ด ๐ฎ ๐ง๐ผ๐ฝ ๐๐ผ๐ฟ๐บ๐ถ๐ป๐ด?
โ On-chain data reveals long-term Bitcoin holders (LTH) are quietly taking profits amid price strength
โ Average LTH cost shot up 9.57% in 7 days, signaling internal portfolio reshuffling and possible profit realization
โ Analyst Murphy warns this may hint that LTH see current levels near their predicted cycle top
โก Key On-Chain Insights (May 17, via X By Murphy):
The average holding cost for LTH has surged to ~$31,000, reflecting that cheap BTC from earlier cycles is being sold off, lifting the overall cost basis.
This cost increase is not only due to STH aging into LTH, but also LTH selling lower-cost BTC, reducing the percentage of cheap coins held long term.
Historically, LTH rarely sell unless under panic or strong caution, but Murphy sees no panic nowโsuggesting calculated profit-taking as BTC hovers near levels they consider 'ripe' for exits.
โก Analyst Note:
"LTH's cautious exits may reflect their internal models signaling that Bitcoin is close to a local or cycle top... though their judgment isnโt always perfect."
This behavior can act as a contrarian warning flag for tradersโlong-term holders tend to be smart money, and their gradual withdrawals often align with overheated market conditions.
โก ๐ง๐ฟ๐ฎ๐ฑ๐ฒ๐ฟ ๐ง๐ฎ๐ธ๐ฒ๐ฎ๐๐ฎ๐
โ Monitor LTH behavior closely. Continued profit-taking by this group could pressure BTCโs upside if accompanied by cooling inflows and weak spot demand.
โ Caution advised near key resistance zones, especially if on-chain data continues to show rising LTH cost and reduced 'diamond hands' conviction.