Bitcoin's Long-Term Holders Unload 539K BTC Near $80K
Bitcoin's long-term holders have been selling their coins in large quantities near the $80K price level, creating a significant supply wall for the cryptocurrency. According to data from CryptoQuant, as cited by CoinMarketCap, these sellers have moved approximately 539K BTC into the market since the beginning of this year.
The $77K, $80K range has become an important area for traders to watch, as the additional supply from long-term holders can make it more difficult for prices to continue moving higher unless demand is strong enough to absorb those coins. CryptoQuant's data indicates that this selling has contributed to a supply wall around the $77K, $80K zone.
The inability of Bitcoin to establish a sustained move above $80K has placed greater attention on the balance between distribution from existing holders and fresh demand from buyers. Long-term holder activity is closely watched because these investors typically represent coins that have remained dormant for extended periods, and when such supply returns to exchanges or otherwise enters active circulation, it can alter short-term market liquidity and trading conditions.