Global Investors Eye FTX's AI Startup Stake As Long-Term Bitcoin Holders Show Pattern

By: Eva Baxter

FTX's stake in artificial intelligence firm, Anthropic, is reportedly up for sale, and global investors, including sovereign wealth funds, show interest in the purchase. At the same time, the on-chain analytics firm Glassnode explains a pattern showing that Bitcoin might reach a potential top when long-term holders start distributing.

Long-Term Bitcoin holders, those who have held onto their coins for more than 155 days, significantly influence Bitcoin's supply dynamics. The analytics firm has noted that these holders usually don't sell their coins quickly regardless of market conditions and tend to hold through periods of uncertainty. Using the 'LTH Market Inflation Rate' metric, Glassnode estimates we are in the early phase of a distribution cycle, indicating substantial market activity ahead.

Bitcoin's volatility in the context of this pattern might suggest traders are reconsidering their positions in anticipation of the blockchain's halving event, a built-in mechanism that reduces coin rewards for miners and has historically triggered price rallies.