Bitcoin's ongoing bull market has resulted in a wealth shift from long-term holders to new investors, according to a Glassnode report.
The redistribution of wealth indicates the maturing of Bitcoin markets, with long-term holders realizing record profits, while new investors absorb the supply.
Growing institutional participation and strong retail interest have contributed to the expanding depth and diversity of the Bitcoin ecosystem.
Despite profit-taking by long-term holders, new investors have provided liquidity and supported Bitcoin's upward momentum.