Long-Term Bitcoin Holders Cash Out $42 Billion
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Bitcoin long-term holders (LTHs), entities holding coins for at least six months without selling, offloaded after the BTC price hit new all-time highs above $126,000 in early October.
Analyzing the LTH supply change, CryptoQuant analyst Maartunn said that on a rolling 30-day basis, the supply had decreased by a net 405,00 BTC, worth around $42.3 billion at current market prices as of Tuesday.
TFTC founder Marty Bent said, “The fact that the market can absorb this amount of sell pressure without nuking 30%-50%” is a positive signal for Bitcoin.
Still, short-term holders were also under pressure as they sent over 26,800 BTC (worth about $3 billion) to exchanges at a loss over the last three days.
This activity highlights a familiar behavioral pattern in which STHs, often referred to as “weak hands,” tend to panic-sell during market dips, frequently incurring losses.
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