The fact that the market can absorb this amount of sell pressure without nuking 30-50% is the signal here.
View quoted note →
Login to reply
Replies (25)
Should this say sold, or moved on chain... Big difference.
This has always been a shortcoming of on chain analytics obviously, but it rarely gets discussed.
View quoted note →
The more concerning part is why they would sell as OGs…
Exactly, that resilience is impressive.
😳
They have won. And I'm sure they're not selling all their BTC.
Very true 👊
Won what?? Paper!? Bitcoin is not a tool used to profit in boomer paper. It’s meant to replace boomer shit paper… Therefore I see zero logical reasons to sell ⭕️
If you want to buy something and the seller doesn't accept BTC, for example real estate.
They think we are following the 4 year cycle.
stay strong my fellow bag holders!!!
If you are a whale, it is only natural to sell and enjoy the wealth you’ve accumulated. Let’s work towards building systems that allow for selling directly for the things they want instead of btc-to-local currency-to-thing.
YES
#YESTR
Let them sell
Maybe. The question is why long term holders sell at this price now?
Thank you long term holdlers for the distribution, I will carry this few sats forward and dump it to the next generation in 16 years.
They too will be wondering why did I sell so cheap 😉
To hazard a guess, i'd imagine the growth in the legitimacy of the stablecoin market now provides fiat off ramps that never previously existed for OGs.
Just two years ago, here in the UK I was getting my bank accounts frozen regularly because I was simply depositing money to Coinbase.
If I ever sell, USDT seems like a godsend.
Because some of them are using history as a guide
Me, I hope cycles are not dead, but if that is the case the price needs to go much higher from here.
If cycles are indeed dead, there will be a lot of OGs who will not be able to buy the lower price
With that I agreed 100%. More comfy exit option make profit realization easier - thus flattens higher end of bull run.
Still not sure if that is main driver to be honest. I would risk to post a theory it may be indeed market players are way more mature with laods of institutions in place - thus less random trade moves, more stable price. Still this does not explain why old addresses - long term holders start to sell now... could be price push down before bigger jump. Don't know.
What?… Dude you gotta be new around here… I’ve been in Bitcoin since 2011 I have not needed to sell a single sat for any reason since 2018… If they don’t accept BTC I pay them on credit and then repay the credit with BTC. Bro legit… NO EXCUSES TO SELL!! 🤙🏻🤙🏻✅
Pretty unreal. Will see if demand keeps up.
Self-fulfilling 4 year cycle theory playing out.
Very scarce, we worried back
In the day there was not going to be any BTC around. If we struggled at 100K, for NGU imagine at “1M”. There will always be plenty of BTC around. everyone is a seller.
Who is selling now?? And why ? #asknostr
