Analysis: Bitcoin price hits a key sell zone, long-term holders slow profit-taking

According to CoinDesk, on-chain data from Glassnode shows that Bitcoin has rebounded into the price range that previously hindered its rise at the end of last year, and profit-taking behavior among long-term holders has significantly slowed.
These "long-term holders" who have held Bitcoin for over five months are currently selling about 12,800 BTC per week to realize profits, a pace far below the weekly sell-off of over 100,000 BTC when prices were above $100,000 last year.
Analysis indicates that this slowdown has eased some resistance to the price rebound, but this price zone has repeatedly suppressed upward momentum over the past few months. Any broader trend reversal will still need to first absorb the selling pressure from long-term holders. Meanwhile, escalating geopolitical tensions could lead to increased market risk aversion, posing downside risks to Bitcoin prices.