According to a report by on-chain analytics platform Glassnode, the Bitcoin market appears to be facing a significant structural shift. Bitcoin rose to $66,000 in recent days, marking its first technical high peak since June. This signals that a shift in market structure may be imminent. While Long-Term Holders (LTH) are holding some of their Bitcoins at a loss, losses among this group remain limited, indicating that selling pressure is low.
The report also highlights the increase in profitability of Short-Term Holders (STH), with 62% of this group now in profit. It also highlights the impact of large crypto ETFs on the Bitcoin market, with these funds holding 4.6% of the circulating Bitcoin supply.
