IntoTheBlock: Bitcoin long-term holders began selling in January, but Ethereum long-term holders are still accumulating

BlockBeats news, on June 23, IntoTheBlock released a report stating that data shows that long-term Bitcoin holders began selling in January, but long-term Ethereum holders are still accumulating. Currently, 27.5% of the total market value of Ethereum is pledged, of which 16.3% of the pledged ETH is re-pledged through protocols such as Eigenlayer. This highlights the strong demand for native returns among ETH holders. In addition, long-term holders may be waiting for the approval of the Ethereum ETF and a record high before deciding to sell.

IntoTheBlock said that as market prices rise, long-term holders begin to sell the assets they have accumulated over time. Historical data shows that such profit-taking usually begins in the early stages of a bull market and continues after the peak of the cycle, so monitoring this activity helps to estimate the market peak more accurately.