Bitcoin long-term holders' selling intensifies, on-chain data points to late bear market bottoming phase.

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ME News, July 10 (UTC+8) — Bitcoin has remained below the "real market mean" (~$76,600) and the short-term holder cost basis (~$72,200) for five consecutive months, placing it in a historically rare "deep value" zone. Glassnode data shows that the proportion of realized value from long-term holders selling at a loss has risen from 15% in February to about 43%, with a single-day realized loss peak of $280 million, the highest since December 2022. In the same period, spot Bitcoin ETFs have turned to net outflows since mid-May, with the 30-day moving average daily net outflow reaching a high of $193 million in early June, now narrowing to about $89 million. Although options and perpetual contract positions are generally "deleveraging with a bullish bias," on-chain and institutional fund flows have not yet shown clear reversal signals. (Source: PANews)
BTC2.93%
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