TGViewer
Glassnode Glassnode @glassnode · 44.1K subscribers
Post #857 14.6K
The Week On-Chain 13, 2024
As the Bitcoin market hits resistance at a new ATH of $73k, the Long-Term Holder cohort have ramped up their overall distribution pressure. The market is currently seeing over $2.6B/day in realized profit, as investors start to take chips off the table.

Executive Summary
- Bitcoin prices have pulled back -15.4% from the new $73k ATH, reaching as low as $61k. This price action aligns very closely with the prior 2018-21 cycle.
- Several on-chain indicators have flagged an uptick in profit taking events, with over $2.6B in realized profit taken as the market reached resistance.
- The overall Bitcoin market has several similarities to prior ATH breakouts, specifically related to distribution pressure by the Long-Term Holder cohort.

Read more in The Week On-Chain newsletter and watch our latest video analysis report.
Open in Telegram All posts from @glassnode
More from @glassnode
  1. Oct 7, 2026Bitcoin got through the $85K wall, but the rally is running light. Our new Week On-chain m…
  2. Oct 5, 2026Large entities are back in profit. Small wallets stayed in profit the whole time: at the J…
  3. Oct 5, 2026$BTC trades near $86k after a Sunday rally lifted the weekly close about 2% higher. Deriva…
  4. Oct 5, 2026Whales have stopped sending $BTC to exchanges. Their summer run of net deposits lasted ove…
  5. Oct 4, 2026$BTC's largest overhead liquidation cluster sits near $90k. If price touches this level, l…
  6. Oct 4, 2026$BTC long-term holders stayed in profit this entire cycle. No bear market since at least 2…
Threads Profile ViewerView any public Threads profile without an account.Open ThreadLook →Writing with AI? Make it sound human.Metric37 rewrites AI drafts so they read naturally. Free AI detector, 1,500 words free.Try Metric37 →