The post Bitcoin Demand Softens, but Long-Term Holders Stay Put appeared on BitcoinEthereumNews.com.

Bitcoin Fresh on-chain data suggests Bitcoin is entering 2026 without a decisive trend, as selling pressure continues to meet steady absorption rather than triggering a breakdown. Multiple indicators point to a market in equilibrium — where downside forces are present, but structural demand is preventing a clear collapse or breakout. Data shared by CryptoQuant shows that Bitcoin’s recent behavior is defined less by momentum and more by balance, with sellers active but far from distressed. Key takeaways On-chain metrics show profit-taking and breakeven selling, not capitulation U.S. spot demand has softened, but has not disappeared Bitcoin continues to flow off exchanges, signaling long-term holding behavior Analysts see range-bound trading as the most likely 2026 scenario SOPR Points to Controlled Selling, Not Panic One of the clearest signals comes from the Spent Output Profit Ratio. Into late December, SOPR hovered just below the neutral 1.0 level, with the most recent reading around 0.994. This indicates that coins are being spent close to their cost basis. Historically, prolonged SOPR readings well below 1.0 are associated with capitulation events, where holders sell at significant losses. That pattern is absent here. Instead, the data points to orderly profit-taking and breakeven exits, even as Bitcoin traded near $87,600 after a volatile 2025. The implication is structural: selling pressure exists, but it is not being driven by fear. U.S. Spot Demand Cools, But Doesn’t Collapse The Coinbase Premium Index adds another layer to the picture. Heading into year-end, the indicator slipped to roughly -0.09, meaning Bitcoin traded at a slight discount on Coinbase compared with offshore exchanges. This negative premium reflects softer U.S. spot demand, aligning with ETF outflows and reduced institutional urgency. Still, the premium has oscillated around zero for most of 2025, suggesting intermittent participation rather than a full withdrawal by U.S.-based buyers. In…

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Filed under: News - @ January 1, 2026 6:17 pm