Bitcoin Long-Term Holder Selling Pressure Eases Sharply

Bitcoin's long-term holders are showing signs of reduced selling pressure, as dormant BTC transfers have hit their lowest level in four years. According to data published by Alex Thorn, head of research at Galaxy, these transfers fell to a four-year low in the second quarter.

This phenomenon is similar to the 2017 Bitcoin bull market, where early investors were driven by profit-taking.

The Coin Days Destroyed metric, which assigns greater weight to older coins, also declined. This measure tends to rise when long-idle Bitcoin starts moving again, and historically, increased activity by long-term holders has coincided with stronger selling pressure.