Bitcoin Long-Term Holder Behavior 📊

Long-term holder (LTH) spending has reached levels historically seen near major market phases.

Even after excluding exchange internal transfers, LTH spending sits around ~0.9M BTC — a level previously observed near cycle transitions.

Key takeaway:

This isn’t panic selling. It reflects distribution, portfolio rebalancing, and structural liquidity events, not loss of conviction.

Price continues to hold firm — a sign the market is absorbing supply.

When long-term supply is absorbed without breakdown, it often sets the stage for the next trend expansion.

Smart money watches behavior, not headlines.$BTC

BTC

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