The post Bitcoin holders clamp down on selling – Assessing its impact appeared on BitcoinEthereumNews.com.

Bitcoin’s LTHs are distributing slower, signaling a potential shift in market sentiment Historical trends suggest reduced LTH selling pressure often leads to upward price momentum Bitcoin’s [BTC] price seemed to be hovering around 12% below its all-time high at press time, leaving many to wonder about the future direction of the market. Despite this dip, however, LTHs continue to distribute their Bitcoin holdings, albeit at a slower pace. In fact, on-chain data revealed a key shift – While LTHs are still selling, the rate of distribution has begun to slow. More importantly, the 30-day percent change in LTH supply suggested that this distribution cycle may have hit its peak, signaling that the selling pressure could soon ease. LTH distribution trends Source: Glassnode Recent data revealed that LTHs have continued to distribute their Bitcoin, even with the price just 12% below its all-time high. This ongoing selling behavior means that these long-term holders are cautious, possibly driven by macroeconomic factors or a strategy of taking profits during uncertain market conditions. Despite this continued distribution, the pace of selling has started to slow. There is a declining 30-day change in LTH supply, suggesting that the peak of LTH selling pressure may have passed. This shift can be attributed to improving market sentiment and the stabilization of external pressures, which may have eased some of the concerns that prompted previous selling. 30-Day percent change in LTH supply The 30-day percent change in LTH supply measures the net accumulation or distribution of Bitcoin by LTHs over a rolling monthly period. When this metric rises, it often signals accumulation, while a decline typically indicates active distribution. The data revealed a plateau in LTH distribution, suggesting the selling phase may be ending. Historically, such slowdowns precede periods of reduced selling pressure. As LTHs reduce distribution, downward…

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Filed under: News - @ January 11, 2025 7:27 pm