Odaily News According to Glassnode's latest weekly report, selling pressure from long-term Bitcoin holders has significantly weakened, and these investors are returning to hoarding mode and have begun to hoard tokens again for the first time since December 2023. The report also pointed out some market indicators that buyer demand is returning. Glassnode pointed out that last week, the US Bitcoin spot ETF had a net inflow of $242 million per day. "Considering that the natural selling pressure of Bitcoin miners is about $32 million per day, the buying pressure of ETFs is almost 8 times that of the latter, highlighting the influence and scale of ETFs," the analysts added. Notably, Glassnode observed that Bitcoin's price action in the past three months has been milder than previous bull cycles. According to Glassnode data, in the past three months, Bitcoin's weekly, monthly and quarterly gains exceeded 3.3%, 7.4% and 25.6% respectively, while only 5 days in the past 90 days (weekly, monthly and quarterly) rose by more than 20%. "In previous cycles, this data reached 18 to 26 days, indicating that the current market may be more robust than historical bull markets," the analysts added. (The Block)