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According to statistics from Bitcoin Magazine, over the past 4 weeks, long-term holders ( have held their coins for more than 155 days, and the number of Bitcoins held has decreased by over 300,000.
What is even more striking is that many "ancient wallets" that have been dormant for over 10 years have awakened one after another in the past month, transferring Bitcoin on-chain, likely to take profits at a high.
Blockchain data company Glassnode pointed out that although long-term holders continue to take profits, it has slightly cooled compared to the peak in July.
Sam Gaer, the long-term investor at Monarq Asset Management, believes that although the selling pressure from ancient wallets has suppressed the upward trend, the market's absorption capacity is quite impressive. The situation is reminiscent of last year when Germany sold off Bitcoin. He added that Bitcoin's price inertia often consolidates near psychological barriers, such as $100,000, $110,000, and $120,000. This pattern also occurred last month at the $110,000 level, where it peaked and then repeatedly retreated for consolidation.