CryptoQuant in-depth analysis: Analysis of the impact of long-term Bitcoin holders selling

A recent report released by CryptoQuant on-chain analyst @XBTManager pointed out that among the current sources of selling pressure in the Bitcoin market, one group that cannot be ignored is the "old coin" investors who hold Bitcoin for 3 to 5 years. Although the number of these investors is relatively limited, their behavior is enough to have a direct and immediate impact on the market.

Specifically, the analysis data shows that in the current sell-off transactions, accounts that hold Bitcoin for 3 to 5 years account for about 4%. Although this proportion is not high, it is enough to put pressure on market sentiment in a specific period. At the same time, the proportion of accounts with a holding period of 2 to 3 years selling reached 8%, further confirming the participation of long-term holders in market adjustments. In contrast, accounts with shorter holding periods (such as 12-18 months and 6-12 months) sold less, at 4% and 2% respectively, showing that short-term traders are less sensitive to market fluctuations.

It is worth noting that in addition to the selling behavior of long-term holders, the activity of intraday traders is also one of the important factors in market fluctuations. However, when these long-term "old coins" begin to enter the exchange and trigger a sell-off, Bitcoin prices tend to experience short-term downward pressure.

However, @XBTManager emphasized that since the number of these long-term holders is relatively limited, the selling pressure they bring tends not to last too long. Once the market digests this wave of selling, Bitcoin prices are expected to return to stability in the short term, and may even rebound. Therefore, investors should remain rational when facing market fluctuations and avoid blindly following the trend or panic selling.

In summary, although the selling behavior of long-term Bitcoin holders will have a certain impact on the market, its scope and duration are limited. Investors should pay attention to market dynamics, but should pay more attention to long-term trends and fundamental analysis to make more informed investment decisions. #比特币行情 #美国6月CPI大幅降温 #美联储何时降息？ #以太坊ETF通过 $BTC $ETH #德国政府转移比特币