Long-term bitcoin holders resume selling as price lags behind traditional markets
Long-term bitcoin holders are selling BTC at the fastest pace in five months due to lagging price performance compared to traditional markets.Summary
Long-term bitcoin holders (LTHs), defined as those holding BTC for at least 155 days, have resumed selling at the fastest pace in five months, distributing approximately 143,000 BTC over the last 30 days. This selling pressure is occurring while Bitcoin's price lags behind traditional financial assets like gold and silver, which are near record highs, suggesting stress in the crypto market.
This selling mirrors a previous distribution peak in August. Historically, LTHs sold into strength before the October peak, which aligned with the expected four-year cycle top following the April 2024 halving. After a significant drawdown, LTHs briefly shifted to net accumulation in late December/early January, stabilizing the price near $97,000.
However, the current selling indicates that long-term holders still own about 14.5 million BTC, and with roughly 2 million of those coins now sitting at a loss, this ongoing distribution remains a key headwind for Bitcoin's price action.
(Source：CoinDesk)