Diamond hands have started to sell! The cost of Bitcoin long-term holders has dramatically shaken by nearly 10%, indicating that a phase peak may be approaching?

The Bitcoin chip structure has changed, the cost of LTH has soared to $31,000, STH has achieved profits of 90 daily averages +3 standard deviations, and the market may enter a period of high-end stress. (Synopsis: Trump predicts a new round of higher tariffs in two weeks!) Bitcoin falls below 103,000, Ethereum loses 2500mg) (Background added: PoS is safer? Developers: The cost of attacking Ethereum far exceeds Bitcoin’s $10 billion) As Bitcoin rushes to $100,000, the behavior patterns of long- and short-term holders are quietly shifting, some investors choose to take profits, and the market may face stress tests in the short term. Diamond hands began to sell, LTH average cost rose abnormally On-chain data analyst Murphy pointed out today that the average cost of long-term holders (LTH) of Bitcoin has risen rapidly in recent days, currently reaching about $31,000, which is caused by two reasons: Some STH entering the market at a high level is turning into LTH, pushing up the overall cost; At the same time, some very low-cost long-term chips in the market are being sold off, causing the average cost to rise This phenomenon is quite rare, generally speaking, LTH is mostly “diamond hands”, tend to hold for a long time, not easy to play, so the average cost change is usually stable. With wild fluctuations today (7-day cost change rate of 9.57%, well over 0.4% of TH), it’s worth thinking about why. The high volatility of LTH in the past occurred in August 2024, when the Japanese interest rate hike led to the liquidation of the yen arbitrage trade, which also triggered a significant move by LTH, behind the panic flight caused by the black swan event. This time, Murphy believes that the reason behind it may represent that some LTH believes that the current price is at a stage high, and out of risk aversion, they choose to gradually exit the market and take profits. STH has seen a sharp increase in profits, and profit taking pressure heats up At the same time, Glassnode’s latest weekly report pointed out that short-term holders (STH) have seen a significant increase in realized profits in recent weeks. TH’s realised profit value is now +3 standard deviations from its 90-day average, reflecting the increase in short-term profit-taking behavior in the market. However, Glassnode added that if you look back at the past market towards ATH, the profit realization intensity of STH usually reaches more than +5 standard deviations, which has not yet reached an extreme level, which means that the market still has room for further growth, and there is no clear signal of demand depletion. Based on the observations of Murphy and Glassnode, investors have taken profits in both the long and short term, indicating that if demand cannot keep up in the future, it may further trigger a price correction. Related reports Dell is buying Bitcoin! Consult the SEC reply letter to the public: buy directly without asking shareholders first, we will not enforce the law Sui launches bitcoin anchor token YBTC: Integrate Bitlayer’s cross-chain bridge BitVM Bridge Bauer: Real interest rates may be “high” in the future Inflation volatility is more violent, Bitcoin stands back $103,000, S&P 500 returns to before Trump’s tariff war 〈Diamond hands began to sell! The cost of long-term bitcoin holders hit by nearly 10%, indicating a stage high? This article was first published in BlockTempo’s “Dynamic Trend - The Most Influential Blockchain News Media”.