BlackRock Buys $900M BTC as Long-Term Selling Hits 2017 Lows
BlackRock added nearly $900 million in Bitcoin while long-term holder selling reached its lowest rate since 2017.Summary
BlackRock recently acquired approximately $878 million (9,619 BTC) in the first week of January, rebuilding its holdings after a late 2023 drawdown, bringing its total to about 780,400 BTC. This institutional buying coincides with a significant decrease in selling pressure from long-term Bitcoin holders, whose selling activity, measured by Exchange Inflow Coin Days Destroyed (CDD) on Binance, has fallen to the lowest level since 2017. Onchain data suggests an accumulation phase is underway, as newer participants sell at a loss while long-term holders remain largely inactive and profitable. The Bitcoin Net Unrealized Profit/Loss (NUPL) metric is near 0.3, indicating a cautious transition phase rather than market excess, suggesting rebuilding confidence after the recent 20%-25% pullback from highs.
(Source：Cointelegraph)