Home›Crypto›Bitcoin›Bitcoin sell-side risk hits a one-month low as profit…

Bitcoin sell-side risk hits a one-month low as profit taking cools

Glassnode data show the Sell-Side Risk Ratio fell to 7 basis points per day on a seven-day basis, down from 16 at August’s peak, while a large block of older coins remains held near acquisition prices.

Reported · Written up by our desk · Bitcoin

Bitcoin’s on-chain sell-side risk has eased to a one-month low, according to Glassnode analysis cited by CryptoSlate. In a Sept. 9 report using on-chain observations through Sept. 7, Glassnode set the Sell-Side Risk Ratio at 7 basis points per day on a seven-day basis, down from 16 basis points at August’s peak.

The report also found that long-term holders accounted for 47% of realized profit, compared with 88% at the August peak, signaling a changed mix of holders taking profits. CryptoSlate noted that the Sell-Side Risk Ratio reflects value realization relative to realized capitalization, and a lower reading does not necessarily mean exchange selling volumes have fallen.

Glassnode further reported that the Sept. 3 realized-profit spike was less than half the size of the August spike, distinguishing quieter realization from any change in how much Bitcoin is being held. The analysis identified about 1.07 million BTC acquired between $83,000 and $86,000, with the block barely changing over 30 days.

CryptoSlate added that spot-market data showed negative exchange spot flow on Sept. 8, with spot cumulative volume delta remaining negative even as it improved. Bitcoin was down 0.4% over the past 24 hours, trading as the top cryptocurrency by market cap.

Latest closeBitcoin $78,304.79 ▼0.2%

More like this

Sources