LTH Selling Mirrors Previous Cycle Peaks

[kevin1]

Bitcoin 30-day rolling LTH supply change. Source: CryptoQuant

Historically, sharp declines in long-term holder supply tend to appear during late-cycle or retail-driven phases. Similar patterns occurred in 2017 and 2021, when LTHs distributed into strength near market tops. Recent data shows a 1.1M BTC drop in 30 days, the second-largest decline on record.

[Nahid Hossen]

Similar long-term holder behavior has marked cycle tops in the past.