Bitcoin Long-Term Investors Return to Buying, Relieving Selling Pressure

IconCryptoNewsTerminal Staff29 May, 2024

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Bitcoin Long-Term Investors Return to Buying, Relieving Selling Pressure

According to on-chain analysis firm Glassnode, Bitcoin's long-term investors have resumed buying for the first time since December 2023. This shift away from selling has reduced the selling pressure on the market and contributed to a more positive outlook for the cryptocurrency. Additionally, U.S. BTC spot ETFs have experienced a net inflow, providing further buying support. These factors suggest that the market is stabilizing after a period of volatility and that investors are becoming more confident in Bitcoin's long-term prospects.