Glassnode Analyst: Bitcoin's current breakthrough to ATH is almost identical to previous situations
Glassnode analyst @_Checkɱate posted on social media X, stating that the situation of Bitcoin breaking through its all-time high (ATH) is almost the same as before. Long-term holders (LTH) begin to sell their tokens by leveraging new demand and liquidity, and smart investors buy low and sell high. In the previous two bull market cycles, new demand for Bitcoin was able to absorb long-term holder sales within about 6-8 months while also pushing up prices. Considering that the typical supply from long-term holders has dropped by 14%, approximately 40% of this process has been completed (only an estimate). Given the fund flow situation between spot Bitcoin ETFs and GBTC during this round of Bitcoin's ATH breakthrough, the distribution of long-term holder supplies is similar to previous situations. According to calculations, GBTC accounts for about 25% of long-term holder expenditures, while ETF demand accounts for about 40% of net capital inflows.
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
Anthropic's Super IPO Approaches, Triggering a "Rushing Ahead" Trend in the US IPO Market
Anthropic is preparing for a historic IPO comparable to SpaceX, attracting intense competition among various companies for investor attention. However, the triple timing of Labor Day, the Federal Reserve's interest rate meeting, and the midterm elections in the US has compressed the IPO window to the limit. Rob Stowe from Barclays predicts there will be a highly concentrated issuance window between Labor Day and the presidential election.
TOP 5 Altcoins to Watch for September 2026
Hot weather boosts cooling demand, US natural gas futures edge higher, LNG export demand reaches highest level since late June
U.S. natural gas futures edged up slightly on Monday as recent weather forecasts indicate that most cities in the southern, eastern, and East Coast regions of the U.S. will experience high temperatures in the coming days. This is expected to boost demand for air conditioning and, consequently, increase the power sector’s demand for natural gas.

Sber forecasts $46.4 billion crypto trading volume in Russia after legalization