Bitcoin’s Unusual Price Behavior Hints at New Market Phase

New on-chain data reveals an intriguing dynamic in Bitcoin’s market, challenging typical patterns during bull runs. While long-term holders (LTHs) are currently realizing significant profits, their overall supply is actually increasing. This unusual behavior has led to a ‘unique duality’ where selling pressure seems outweighed by ongoing accumulation, potentially leading to new price discovery. The report suggests that institutional investors and the recent entry of US spot Bitcoin ETFs play a critical role in this evolving trend. 📈