CryptoQuant: It's normal for long-term BTC holders to sell for profit in a bull market, and it hasn't reached an extreme level yet
CryptoQuant analysts stated that after BTC broke through the $100,000 mark, long-term Bitcoin holders (LTH) began to profit. CryptoQuant data shows that the "Long-Term Holder Spent Output Profit Ratio" (LTH-SOPR) has significantly increased. This ratio measures the profit level of long-term Bitcoin investors by comparing the selling price of Bitcoin with their initial payment.
Julio Moreno, Director of Research at CryptoQuant said: "As the price of Bitcoin rose above $100,000, Long Term Holders (LTH) have been taking profits as shown by LTH SOPR rising to 4. This indicates that tokens sold by long term holders have realized four times their original purchase price in profits. However, this is a normal phenomenon during a bitcoin bull market and profit-taking is still far from extreme levels."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
3D printing materials supplier Amaero (AMRO.US) restarts US IPO, fundraising drops 60% to $20 million
Amaero (AMRO.US) on Thursday resumed its initial public offering (IPO) plans in the United States and filed new documents with the U.S. Securities and Exchange Commission (SEC), revealing a reduced number of shares to be issued.
Even with Eli Lilly's endorsement, TRex Bio (TRXB.US) struggles to enjoy a premium, as the issue price drops to the lower limit of $14.
Early-stage biotechnology company TRex Bio has priced its IPO at the lower end of the range at $14 per share, raising $116.7 million and achieving a market capitalization of $384 million. The company will be listed on Nasdaq on Friday, with Eli Lilly expressing interest in increasing its stake.
Small molecule biotechnology company Iambic Therapeutics (IAM.US) IPO priced at $15-17 per share, aiming to raise $150 millions.
Iambic Therapeutics plans to raise $150 millions by issuing 9.4 million shares, with an offering price range of $15 to $17 per share.
Crypto prices
More
