Long-term bitcoin holders have sold more than 400,000 bitcoin over the last 30-days, representing almost 2% of the total supply.
Bitcoin is in a material supply distribution phase and the price is still holding strong above $100,000.
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Replies (19)
Now that's just a damned shame.
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The fact that the market can absorb this amount of sell pressure without nuking 30-50% is the signal here.
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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.
Paper Bitcoin or real onchain Bitcoin?
Everyone plays their part.
I think it's more like transferring not actually selling. 400k is indeed a huge number but 1 Bitcoin in cold storage of a pleb equals 1 Bitcoin in Black rock possession.
Bye Felicia
So, it was always about ngu then?
Those are NSA and CIA black opp wallets selling 🤷 price suppression and operation funding = two birds with one stone
I can't figure out why anyone would sell their Bitcoin. 😯
What the difference between holding $10billion of Bitcoin and $100 billion in Bitcoin?
Basically nothing from a material perspective but 4 years of your life you will never get back.
Which makes it useful more as a directional indicator
What are they buying?
Bill bro 😭
time to UASF and keep Bitcoin best money. Bitcoin is money not data storage
Because they aren't true Bitcoin Maximalists that don't believe in HODLing! They're buying/selling Bitcoin short-term and treating it like just another shit-coin. Sad really!
What a Fucking mess we are in at the moment!! Nobody has a f clues as to what is going on!!