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Jakarta, Pintu News – At the start of 2026, Bitcoin (BTC) was stuck around $88,000, extending a period of stagnant trading over several weeks. Although the price action appears stationary, on-chain data suggests that there may be market shifts not visible on the surface. Three indicators from CryptoQuant point to a decrease in selling pressure, although macro uncertainty continues to limit upward momentum.
After experiencing a sharp decline at the end of 2025, Bitcoin (BTC) price has struggled to reclaim key resistance. The lack of follow-on buying kept market sentiment fragile, with traders waiting for confirmation that the correction was complete. The first signal came from long-term holder (LTH) supply data.
After months of negative readings, the 30-day net change in LTH supply is now positive at around 10,700 BTC. This change suggests that long-term investors are no longer distributing coins on a large scale. Instead, supply is gradually moving back into stronger hands, a pattern often seen during consolidation phases rather than market peaks.
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The second chart follows the profit ratio of output spent by long-term holders (LTH SOPR). This metric shows whether long-term holders are selling at a profit or loss.
Currently, SOPR’s LTH is around the neutral level of 1.0. This suggests that long-term holders are not giving up or rushing to exit at a loss. Historically, this behavior is in line with the market finding equilibrium after a correction, rather than entering a deeper collapse.
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The third indicator is the net flow of Bitcoin (BTC) exchanges. The latest data shows a continued net outflow, with more Bitcoin (BTC) leaving the exchange than entering.
This trend reduced the immediate short supply in the spot market. However, the lack of a price rebound suggests that demand remains cautious, likely capped by tighter liquidity and expectations of a delay in US interest rate cuts.
The three charts paint a mixed but improving picture. Supply-side pressures seem to be easing, and long-term holders remain confident. However, prices remain range-bound due to weak demand and macro headwinds. A quick move to $100,000 in January would likely require a new catalyst. Without it, Bitcoin (BTC) will probably continue to consolidate, building a base that could support a stronger recovery later in 2026 rather than an immediate breakthrough.
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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.
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