Recent data from glassnode reveals that long-term holders (LTH) have reduced their Bitcoin holdings by over 370,000 BTC in the past 30 days, despite net position changes indicating a decrease of only 144,000 BTC. According to Foresight News, the average daily expenditure by LTHs has exceeded 12,000 BTC.
glassnode explains that the net position change reflects the net balance rather than the total amount sold. This calculation involves subtracting the amount spent by LTHs from the amount of Bitcoin transitioning from short-term holders to long-term holders. Over the past month, approximately 226,000 BTC have matured from short-term to long-term holdings, resulting in a net supply decrease of only 144,000 BTC.
The organization notes that when the maturity of coin age is high, the net indicator may underestimate the actual scale of distribution by LTHs.
