Long-Term Holder Selling Activity Slows Down as Market Becomes More Rational

Bitcoin's long-term holder selling activity has cooled down significantly, indicating that the market is becoming more rational. According to an analysis by Darkfost, a CryptoQuant contributor, exchange inflows from long-term holders have fallen well below their annual average. This is in contrast to the March 2024 bull-market peak, where such inflows rose to over five times the annual average.

At the time, these inflows were particularly active, but by the 2025 peak, activity was relatively subdued before increasing again as the bear market began in earnest. Now, long-term holder selling activity has cooled down and remains far below the annual average.

Darkfost noted that this pattern aligns with loss realization by investors who bought Bitcoin at the peak. He added that the behavior of long-term holders is changing, and the market is gradually becoming more rational.