X @Bankless

Long-Term Holder Behavior - Last cycle, long-term holders realized $500 billion in profit [1] - This cycle, they've already cashed out $900 billion, representing a 80% increase compared to the last cycle [1] Market Cycle Concerns - The report questions whether another phase is possible given the current late stage of the cycle [1] - The report raises concerns about who the buyer is at this stage [1]