Bitcoin experienced a sharp decline earlier this week but later recovered. Analysts note that wallets holding BTC for at least 155 days are still selling, which they consider a bullish signal for Bitcoin. Long-term investors reducing their balances often coincide with strong Bitcoin rallies. Glassnode analysts report that the total BTC supply held by long-term holders has decreased, with short-term holders buying up the BTC. The pace of sales by long-term investors has slowed, and the number of BTC held on exchanges has decreased significantly. This reduction in supply is seen as a bullish indicator.



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