Long-Term Bitcoin Holders Sold — But They’re Not Leaving

[ed]

Bitcoin’s sharp drop below $60K last Friday shook the market, but onchain data tells a more nuanced story.

Long-term holders reduced exposure by 245,000 BTC, the largest daily outflow since December 2024. Historically, similar spikes in distribution have occurred during corrective phases, not the start of prolonged bear markets.

The twist?
Despite that selling, total long-term holder supply rose to 13.81 million BTC in 2026.

That divergence suggests repositioning, not capitulation. As short-term traders step back during volatility, supply continues to “age” into long-term status — and many investors appear to view the dip as discounted Bitcoin rather than an exit signal.

[cryptohog]

price bouncing above 70k is nice but macro headwinds still look heavy, no reason to get too comfy