Glassnode says 2025 bull-market BTC buyers face growing capitulation pressure

Selling by investors who bought BTC near cycle highs has increased recently, according to a Glassnode analysis. Glassnode said investors who bought one to two years ago at $97,000 and six to 12 months ago at $89,000 are now underwater, adding daily BTC selling by buyers from the 2025 bull market has reached its highest level this year, while investors who accumulated during the bear market are not engaging in large-scale selling.