CryptoQuant: Bitcoin long-term holders' profit-taking is lower than before, accumulation trend dominates the market

BlockBeats news, on August 15, CryptoQuant analyst Axel Adler Jr stated that the cumulative distribution of long-term holders of Bitcoin, who have held for six months to two years, shows that their supply has increased from 3.551 million BTC in April (when the Bitcoin price was 83,000 USD) to the current 5.191 million BTC, an increase of 1.64 million BTC. During the testing period of the ATH at 118,000 USD, there was moderate profit-taking, with the 7-day average spending of long-term holders rising to 20,000 BTC, significantly lower than the past typical spending peaks (40,000 to 70,000 BTC). Overall, this indicates that in the current market, the trend of Bitcoin accumulation is dominating over profit distribution.