Historically, Bitcoin finds a price bottom when sellers have been exhausted, forging the latest wave of long-term holders, it said.

Glassnode concluded that these metrics paint a relatively constructive view of Bitcoin holder conviction. “Most are simply not interested in spending their coins just yet.” nostr:note1mxzdw9ulcrmtq0tcv0re2730gj0ej5dlvvxc5epkd428txuyclfs6zzmcj