Bitcoin sell-side risk hits rare low as sellers fade
Bitcoin's sell-side risk ratio dropped to seven from sixteen in September. This places the metric among its lowest readings on record.
Bitcoin sell-side risk fell to seven in September. The metric dropped from sixteen in August. This level is among the lowest on record. Bitcoin held most of its 25% August gains. Investors showed little sign of panic selling.
Glassnode reported the decline in its latest newsletter. The sell-side risk ratio measures realized profits and losses. It divides these figures by Bitcoin’s realized market cap. Lower values signal accumulation phases. They also indicate low sell-side risk environments.
Long-term holders reduce profit realization
Long-term holders are realizing profits at a lower rate. Their share of realized profit fell to 47%. This is down from 88% at the August peak. The September 3 profit spike was under half of August’s. Recent buyers are the primary sellers now.
ETF investors face breakeven pressure
US spot Bitcoin ETF investors have spent 229 sessions below breakeven. Their aggregate breakeven level sits near $86,000. Bitcoin has closed below this price for those sessions. ETF investors currently hold paper losses of $3.9 billion.
The spent output profit ratio remains in net profit. It has held above one for the longest stretch of 2026. This suggests a bullish long-term trend. The low sell-side risk eases concerns over panic selling. Cointelegraph notes the market structure remains stable.
