Long-Term Bitcoin Holders Sell 1.1 Million BTC During Price Surge
Recent trends in the crypto market suggest that selling by long-term investors indicates bullish sentiment. Key points include:
- Long-term holder supply has decreased to about 13 million BTC.
- Over 1 million BTC transferred from long-term to short-term holders during the recent price rise above $100,000.
- This shift represents strong demand at prices exceeding $90,000.
- The rate of selling by long-term holders has slowed, indicating a more cautious approach.
Exchange Data
- BTC held in centralized exchanges has dropped to 2.7 million from over 3 million in six months.
- This decline is viewed as bullish but may be influenced by coins moving into ETF wallets rather than individual withdrawals.
- Adjusted exchange balance remains over 3 million BTC when accounting for coins moved to ETFs.
