Long-term Bitcoin holders increase sales as BTC approaches 80000
Long-term Bitcoin holders are moving more coins to exchanges as BTC nears 80000, increasing selling pressure. For the first time this year, the amount of BTC released into the market by long-term holders has exceeded the amount newly accumulated. In early June, long-term holder balances were increasing by a monthly average of 286000 BTC, but this has shifted to a net monthly average decline of 21000 BTC, indicating a rise in selling pressure. Exchange deposit data confirms this trend, with inflows from long-term holders reaching their highest level this year. While market demand is recovering, selling pressure could intensify if long-term holders continue to increase sales.
-- Price
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