Bitcoin Long-Term Holders Add 163K BTC for Sale: Historical Trends Show
Long-term Bitcoin investors have been making some big moves lately, selling almost 550,000 BTC, which is about 4% of their holdings. Last week, they cashed out a whopping $10.5 billion in profits in just one day. That’s a record high in dollar terms!
The bitcoin price has taken a bit of a hit recently, dropping 7.6% from its almost $100,000 peak on Nov. 22. But don’t worry too much – this kind of pullback is pretty normal in a bull market. In fact, it’s common for bitcoin to drop by as much as 20% or even 30% during these market corrections.
One of the main reasons we didn’t see bitcoin hit that $100,000 mark is because long-term holders have been selling off their BTC. These “smart money” investors, who have been holding onto their bitcoin for over 155 days, have been cashing in on the soaring prices. Since September, they’ve sold over 549,000 BTC – that’s a significant chunk of their holdings.
But don’t panic just yet. Looking back at previous bull markets in 2017, 2021, and early 2024, we can see a pattern. Each time, the percentage drop from long-term holders gets smaller and smaller. Currently sitting at 3.85%, if this trend continues, we could expect to see another 1.19% drop or 163,031 BTC being sold off.
So, while it’s interesting to see all this selling pressure from long-term holders, it’s not necessarily a bad sign. In fact, it’s all part of the natural ebb and flow of the market. And who knows, this might just be a great opportunity for new investors to jump in and scoop up some of that bitcoin being sold off.
