The Long-term holder supply starts to decrease, as long-term holders are back in profit for the first time since May 2022. Congrats to all those still holding!

As much as the recent rally might have shown what Bitcoin is capable of, by thriving in the midst of a starting banking crisis. It has also been a big point for Bitcoin to shift its tides and indeed show the first more serious signs of a reversal from bear market to bull market in play. By now it actually seems that saying Bitcoin is out of the bear market is not a too optimistic statement.

One tide that turned is that for long-term holders, through this bear market the long-term holder supply had increased or even skyrocketed to new ATHs, with nearly 73% of the total BTC supply being from long-term holders. Now we actually seeing the biggest decline in the long-term holder supply since the 2021 top.

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Chart from Glassnode and analyst James V.Straten

The reason for that is: Long-term holders returning to profits on their holdings for the first time since May 2022. Now they are also starting to finally take profits again as they endured a cold and dark winter. If you really thing about it, you may say that they deserve that after even being able to survive the hell that we call 2022.

Also you can see that a similar decline in the long-term holder supply happened during the reversal in 2019, where they also started taking profits.

As I believe that a very big majority of this sub are actually long-term holders (probably something like 90%), congrats to all of those that are still holding and not taking any profits just yet. Looking into some green numbers and not taking advantage of them but rather having the patience.