Bitcoin on-chain data flashes early signs of the BTC bottom being in
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Long term holders are still in profit
Utilizing the realized price distribution in terms of long term holders versus short term holders may also provide insight. Currently, long term holders are the majority of the supply in profit meaning they have less stress to sell and if they did, they are in profit. The total amount of supply in profit is 56% whereas for long term holders, it is at 60%.
While previous market cycles have lasted longer than the current cycle, signs are positive for a repeat breakout. And with long term holders being an overwhelming majority of the supply in profit, sell pressure may be minimized in the event of upcoming sell-off events.
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