Bitcoin HODLers Finally Take a Break, ETFs to the Rescue? 👀

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Well, well, well, look who decided to chill for a bit! Glassnode, the ever-so-thrilled on-chain analytics firm, has dropped a bombshell – Bitcoin long-term holders (LTHs) are actually slowing down their relentless selling spree. 😱

Bitcoin Long-Term Holder Net Position Change Is Now… Neutral? 😐

So, apparently, in their latest weekly report, Glassnode spilled the tea on how Bitcoin’s long-term holders (aka those who’ve been holding their BTC for over 155 days – probably since the last crypto hype cycle) are switching things up. You know, LTHs are the ones with the real diamond hands. You know, the ones who refuse to let go of their precious coins. 💎✋

And let’s face it – these guys are the trendsetters. When they do something, the whole crypto world watches closely, as their behavior is like the “influencers” of the Bitcoin world. What they do affects everyone, so yeah, we kinda have to care about this.

Now, how do we track their every move? The magic trick here is the “Net Position Change” metric. This little gem tracks the monthly net change in the amount of Bitcoin these LTHs are holding. And yes, this includes all their past drama (a.k.a. buying and selling). 🎭

Let’s see what the chart says, shall we? Feast your eyes on this masterpiece:

As you can see, the Bitcoin LTH Net Position Change was happily positive in the first half of 2025. But then, *plot twist* – July hit, and the graph flipped, with the indicator going negative. Who’s selling their Bitcoin? Apparently, the LTHs. 🙄

But, here’s the kicker: just because the LTHs start selling doesn’t mean they’re buying right now. Oh no, no, no. It means that some coins they purchased *way back when* have finally hit that sweet 155-day mark, and they’ve officially entered the “LTH” club. 🏅

Fast forward to October, and guess what? The Net Position Change is back to neutral. Yep, the selling has cooled off, and coins maturing past the 155-day cutoff are balancing things out. It’s like the LTHs are taking a vacation from their profit-taking. 🏖️

In the words of the wise Glassnode report:

This cooling supply pressure suggests that the recent phase of long-term holder profit-taking may be easing, potentially leaving ETFs and new inflows as more decisive drivers of market direction.

Hold on, hold on. ETFs to the rescue? Yep, that’s right. The spot exchange-traded funds (ETFs) are stepping in with a shift of their own. Check out this eye-catching chart from Glassnode, just in case you want to pretend you understand it all: 👇

See that? US Bitcoin spot ETFs flipped into outflows in late September but have now turned *green* again. Oh, the drama. The analysts over at Glassnode are betting that this renewed demand, plus the reduced selling from LTHs, could mean we’re about to see some stability in the market. 🙌

Should this renewed demand align with reduced LTH selling, ETFs could provide a stabilizing force, offering a more constructive foundation for price resilience and supporting the conditions needed for a sustainable advance.

BTC Price – Because You’re Probably Wondering

And, for those of you not keeping up, Bitcoin is currently hovering around $119,700. It’s up nearly 8% in the last week, because who doesn’t love a good rally? 💸

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2025-10-03 08:32