According to Odaily, recent data released by Cauê Oliveira, Research Director and On-chain Analyst at BlockTrends, indicates that novice investors are capitulating, thereby increasing selling pressure. Approximately $2.4 billion worth of Bitcoin, held for 3 to 6 months, was transferred during a period of price decline. This selling pressure is likely from entities that purchased Bitcoin at the beginning of the year, possibly speculating through ETFs and halving.
Although these entities can be classified as 'long-term' holders, their behavior is more akin to short-term investors, as they only entered the market at the beginning of the year. On the other hand, entities that have held for over a year have not shown significant selling patterns, indicating that true long-term holders are still holding onto their coins.
