Analysts: Bitcoin long-term holders are starting to take profits, this group may anticipate the price is near the top

On-chain data analyst Murphy posted on social media that the average cost of Bitcoin long-term holders (LTH) has suddenly risen rapidly recently, with a 7-day cost change rate of 9.57%. In addition to the transformation of some short-term holders (STH) high-level chips into LTH, there must be some low-cost long-term chips sold, which has raised the overall cost. Now the average cost of LTH is around $31,000, indicating that many chips with a cost of less than $31,000 have been sold, which has caused the overall cost to rise rapidly. Murphy further explained that LTH holders who are "diamond hands" usually operate very little, and their selling actions are basically based on "panic" or "risk aversion", and there is no "panic" in the current situation, so it may be that LTH feels that the price is close to their anticipated top and begins to gradually exit (LTH's judgment may also be wrong).