{"id":93437,"date":"2026-01-22T15:00:57","date_gmt":"2026-01-22T12:00:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=93437"},"modified":"2026-01-22T15:05:24","modified_gmt":"2026-01-22T12:05:24","slug":"bitcoin-faces-shift-as-long-term-holders-exit-amid-record-sales","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-faces-shift-as-long-term-holders-exit-amid-record-sales\/","title":{"rendered":"Bitcoin Faces Shift as Long-Term Holders Exit Amid Record Sales"},"content":{"rendered":"<p>The CryptoQuant analyst known as Kripto Mevsimi has described 2024-2025 as a period of the &#8220;largest release&#8221; of long-term Bitcoin supply in history.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Largest Long-Term Bitcoin Supply Release in History<\/p>\n<p>\u201cBitcoin is not only undergoing a price cycle, but potentially a transition in who holds it and why\u2014and long-term holder supply behavior is one of the clearest on-chain signals of that shift.\u201d \u2013 By <a href=\"https:\/\/twitter.com\/KriptoMevsimi?ref_src=twsrc%5Etfw\">@KriptoMevsimi<\/a> <a href=\"https:\/\/t.co\/LfXE7tImtC\">pic.twitter.com\/LfXE7tImtC<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/2014243005394223378?ref_src=twsrc%5Etfw\">January 22, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The expert examined the <span data-descr=\"Revived Supply\" class=\"old_tooltip\">revived supply<\/span> metric for coins that have not moved for more than two years. Current sales volumes of such assets have surpassed those of the bull cycles in 2017 and 2021.<\/p>\n<p>Historically, the activation of &#8220;dormant&#8221; bitcoins has coincided with sharp price spikes and an influx of speculative capital. The current activity occurs with less market noise but involves significantly older coins.<\/p>\n<p>According to the analyst, this indicates a structural capital rotation. Early investors, who bet on the asset&#8217;s scarcity and self-custody, are exiting their positions. Bitcoins are transitioning to new participants whose decisions depend on price, macroeconomics, and global liquidity.<\/p>\n<p>Data from early 2026 showed a slowdown in sales compared to the peaks of the past two years, but a complete trend reversal has yet to occur, noted Kripto Mevsimi. Over the year, it will become clear whether this was a temporary depletion of sales or the beginning of a new accumulation phase.<\/p>\n<h2 class=\"wp-block-heading\">Fragile Balance and Selling Pressure<\/h2>\n<p>The on-chain structure of Bitcoin remains fragile. The price fluctuates around key cost levels of coins, and convincing signals of long-term accumulation are absent, according to a Glassnode report.<\/p>\n<p>href=\u00bbhttps:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\u00bb>#Bitcoin<\/a> is consolidating in a low-volume regime, with easing spot pressure, light leverage, and volatility priced as short-lived rather than structural.<\/p>\n<p>Read the full Week On-Chain\ud83d\udc47<a href=\"https:\/\/t.co\/zQyLdUEMAI\">https:\/\/t.co\/zQyLdUEMAI<\/a> <a href=\"https:\/\/t.co\/JxKYdQ9CHO\">pic.twitter.com\/JxKYdQ9CHO<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/2014057214458147119?ref_src=twsrc%5Etfw\">January 21, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Experts noted the persistent supply overhang: recent buyers are creating resistance, limiting growth potential. Short-term rallies are used for exiting positions (distribution).<\/p>\n<p>The market operates in a moderate correction mode. Analysts highlighted two key levels:<\/p>\n<ol class=\"wp-block-list\">\n<li><strong>Support:<\/strong> $81,100 \u2014 the True Market Mean Price level.<\/li>\n<li><strong>Resistance: <\/strong>~$98,400 \u2014 the average purchase price of short-term holders.<\/li>\n<\/ol>\n<p>Attempts to consolidate above these levels encounter sales from investors who accumulated positions in Q1-Q3 2025. The current structure resembles the situation at the beginning of 2022, when repeated failures to overcome the breakeven level of recent buyers prolonged consolidation.<\/p>\n<h2 class=\"wp-block-heading\">Who is Selling?<\/h2>\n<p>The main pressure comes from participants who bought coins 3-6 months ago. They are realizing losses as the price returns to their entry levels (above $110,000), aiming to reduce risks.<\/p>\n<p>Additional pressure is created by a large supply cluster above $100,000, formed by long-term holders. Without a strong influx of new demand, these levels will remain difficult to surpass.<\/p>\n<p>There has also been an increase in trader activity, realizing minimal profits (0-20%). Market participants prefer a quick exit from positions with a small markup, not counting on the trend&#8217;s continuation.<\/p>\n<h2 class=\"wp-block-heading\">Spot Market and Derivatives<\/h2>\n<p>The situation has improved on spot platforms. Binance and aggregated data show a return to buying. Coinbase, previously a source of selling pressure, has reduced activity, stabilizing prices.<\/p>\n<p>However, corporate treasuries are acting passively. Flows from companies are episodic and hover near neutral values, not providing systemic support to the market.<\/p>\n<p>Experts from Glassnode described the derivatives market as a &#8220;ghost town&#8221;:<\/p>\n<ul class=\"wp-block-list\">\n<li>futures volumes are compressed, leverage usage is low;<\/li>\n<li>the options market prices risks only for the near term, with long-term expectations remaining stable;<\/li>\n<li>dealer positioning (gamma) below $90,000 is negative, which increases volatility during declines. Above this level, &#8220;long gamma&#8221; works, which, on the contrary, dampens any growth attempts.<\/li>\n<\/ul>\n<p>According to analysts, Bitcoin is finding a bottom not due to an influx of new money, but because of a pause in sales. The market is in a low liquidity mode and awaits a catalyst capable of rekindling interest from major players.<\/p>\n<p>Earlier, CryptoQuant analyst Julio Moreno <a href=\"https:\/\/forklog.com\/en\/news\/a-shift-in-power-new-bitcoin-whales-seize-market-control\">reported<\/a> that for the first time in history, the share of &#8220;new&#8221; whales in the realized capitalization of the first cryptocurrency has exceeded that of long-term holders.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The CryptoQuant analyst known as Kripto Mevsimi has described 2024-2025 as a period of the &#8220;largest release&#8221; of long-term Bitcoin supply in history.<\/p>\n","protected":false},"author":1,"featured_media":93438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Amid historic sales of old coins, Glassnode noted a \"fragile balance\" with key support at $81,100.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1205,1273,1268],"class_list":["post-93437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptoquant","tag-glassnode","tag-on-chain-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"189","promo_type":"1","layout_type":"1","short_excerpt":"Amid historic sales of old coins, Glassnode noted a \"fragile balance\" with key support at $81,100.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=93437"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93437\/revisions"}],"predecessor-version":[{"id":93439,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93437\/revisions\/93439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/93438"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=93437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=93437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=93437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}