Bitfinex: Long-term Bitcoin holders are profitable again

Bitfinex pointed out in its latest report that long-term Bitcoin holders are once again achieving profitability, and more profit-taking by long-term holders may cause significant short-term downward pressure on Bitcoin’s price. Bitfinex analysts said that long-term holders, who have paused profit-taking since early May, appear to have begun selling off their holdings again, and continued high profit realizations by long-term holders mean that Bitcoin’s near-term prospects are fragile. (The block)