Bitcoin Long-Term Holders Show Bullish Divergence, Analyst Reports

According to BlockBeats, CryptoQuant analyst Axel Adler Jr shared insights on the X platform, noting that since March, the realized price for Bitcoin long-term holders (LTH) has been increasing at a faster rate than the spot price, indicating a healthy bullish divergence. The tokens purchased at high prices during the spring and summer are maturing and entering the LTH group, raising the cost basis for these holders. This process compresses profit multiples and reduces risk without a decline in price. This development suggests that older, low-cost tokens are gradually being absorbed, while new, higher-cost tokens are being added, leading to a 'healthy reset' in the market. As short-term holders absorb the selling pressure from long-term holders, the market cycle is expected to extend, potentially providing further support for an upward price trend.