Analyst: Bitcoin Long-Term Holders 'Capitulating,' Hodling Cost Average at around $49,300
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BlockBeats News, August 7th, CryptoQuant analyst Axel Adler Jr. posted that the Bitcoin long-term holder spent output profit ratio has dropped to 0.92, indicating that long-term holders seem to be capitulating. However, the Bitcoin price is still 30% higher than this group's average cost basis of $49,300. The main selling pressure continues to come from short-term holders.
Source: BlockBeats
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