Long-Term Holders Shift to Distribution as Bitcoin Approaches $80K
Long-term Bitcoin holders are shifting their behavior from accumulation to distribution as the asset approaches $80,000. According to on-chain analyst Darkfost, this marks the first time in 2025 that long-term holder balances have decreased, with net monthly averages declining by 21,000 BTC.
Data from early June showed long-term holders increasing their balances by an average of 286,000 BTC per month. However, this trend has now reversed, indicating a clear increase in selling pressure from a traditionally stabilizing force in the market.
Exchange deposit data corroborates this shift, with inflows from long-term holders reaching their highest level this year as Bitcoin neared $80,000.
The behavior of long-term holders is closely watched by traders because it often reflects conviction. When this group distributes, it can signal profit-taking or a cautious outlook.