Bitcoin long-term holder profitability has shocking stats for BTC maxis

ambcrypto.com:

Keen Bitcoin [BTC] traders may have noticed that BTC volatility was down by a considerable level. Not so long ago, BTC would make major moves where prices would rally by huge margins, making it quite profitable for long-term holders. Fast forward to the present: Being a long-term BTC holder is not as profitable.

A recent Glassnode analysis summed up BTC’s declining long-term holder profitability. According to the analysis, long-term holder profitability was down to levels previously seen in December 2018.

This was around the same time that the market bottomed out during the previous bearish cycle. The report also claimed that long-term holders were selling at a 42% average loss according to the long-term holder SOPR metric.

Long-Term Holders are selling $BTC at an avg loss of 42%, indicating LTH spent coins have a cost basis around $32k.

Live Chart: https://t.co/sCKIzBLCTM pic.twitter.com/wEnfVzEs9I

— glassnode (@glassnode) September 29, 2022

The assessment coincided with BTC’s performance, especially in the last three months. The cryptocurrency has struggled to recover from the lower range, and price levels above $25,000 have now become a past narrative. BTC’s latest performance also indicated more affinity for price levels below $20,000.

Furthermore, BTC’s current range might explain why long-term holders are opting to shift from a long-term strategy. The cryptocurrency, so far, maintained a healthy level of volatility in its current range.

Long-term investors have thus, been opting out of their positions to avoid missing out on short-term gains.

BTC miners are among those