Glassnode Analyst: This round of Bitcoin breaking ATH is almost the same as before

Glassnode analyst @_Checkɱate posted on social media X, stating that this Bitcoin breakthrough ATH (All-Time High) looks almost the same as all previous ATH breakthroughs. Long-term holders begin to use new inflow demand and liquidity to consume their tokens, smart people buy low and sell high. In the first two bull market cycles, the new demand for Bitcoin was able to absorb LTH (Long Term Holders)'s selling within about 6-8 months while also pushing up price multiples. If considering a typical LTH supply drop of 14%, then about 40% of this process has been completed now (only approximately). The spot Bitcoin ETF and GBTC's LTH supply allocation during the Bitcoin ATH breakthrough is exactly the same as before, according to calculations: GBTC accounts for about 25% of LTH expenditure, ETF demand accounts for about 40% of net capital inflows.