BTC Volatility May Increase, Long-Term Holders to Face Seller Pressure

Sell-side pressure from long-term BTC holders (those who have held Bitcoin for 3 months to 3 years) is increasing, according to Tuesday's Glassnode market report, which added: “We can expect the incentive for this group to sell more supply to increase if the price rises and further boost their unrealized profits” . The Glassnode report predicts an increase in volatility after the Bitcoin market has been relatively stable over the past week. The report added: “Seller's risk ratios for long-term and short-term holders have been readjusted, suggesting that a new equilibrium has been found. This suggests that the market is ready to act and expectations for near-term volatility should increase.”