Bitcoin Profit-Taking Slows as Long-Term Holders Hold Steady in August

The pace of profit-taking by veteran Bitcoin (BTC) holders has cooled off in August as they resist selling, signaling a shift in market dynamics after a record-breaking July.

Data shared by on-chain analytics platform Glassnode shows realized profits by long-term holders, measured over a seven-day moving average, have dipped sharply from July’s $1 billion per day streak, which had marked one of the heaviest selling periods in the asset’s history.