Bitcoin (BTC) Sales by Long-Term Holders, What Impact on Price?

Jakarta, Pintu News – The recent selling of Bitcoin (BTC) indicates a change in behavior from long-term holders. Those who usually hold the crypto asset are now starting to realize profits gradually. This phenomenon reflects a more mature and stable market cycle.

Phased Sales by Long-Term Holders

Chris Kuiper, CFA, through his analysis shared on X, emphasized that the current selling pressure is mostly coming from long-term holders or HODLers. These people are not selling their assets in a panic, but are gradually taking profits after years of accumulating Bitcoin. This signals a change in strategy in managing investments in the crypto market.

On-chain data shows that these sales are not due to panic, but rather a controlled shift in behavior. This shows a more mature market dynamic. Long-term holders are now more likely to sell their assets gradually, unlike in the past when they tended to sell massively as prices increased.

Investor Fatigue and Year-End Adjustments

Kuiper also attributes the gradual sell-off to investor fatigue. Bitcoin’s recent performance has been underwhelming compared to gold or the S&P 500, disappointing investors who expected greater returns. Many anticipated a price increase in October and November, but that didn’t happen.

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As a result, some long-term holders started to lock in profits and adjust their positions towards the end of the year. This was likely done for tax management and portfolio rebalancing. This pragmatic and disappointed approach resulted in steady selling pressure, but not panic selling, as market participants managed risk more cautiously.

More Mature Market Cycles

Julio Moreno, Head of Research at CryptoQuant, added supporting data showing that the one-year supply of inactive Bitcoin has decreased by just 10 percentage points in the 2021 and 2024-2025 cycles. This is in contrast to the sharp 20-point drop in the 2017-2018 cycle. This confirms that the selling in this cycle is measured and orderly.

Although the price action looks muted, both analysts agree that Bitcoin’s fundamentals remain strong. They argue that once seller fatigue is reached, it could pave the way for a significant price recovery. This more mature market cycle shows that investors are now more experienced and the Bitcoin market is maturing.

Conclusion

With a deeper understanding of long-term holder behavior and mature market dynamics, investors can make wiser investment decisions. This stable market cycle offers opportunities for those who are patient and understand when the time is right to act.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coinpedia. Who is Selling Bitcoin? Why BTC Price is Dropping. Accessed on November 14, 2025
• Featured Image: Investing News Network