2025-12-26 04:20:50

On-chain data lights up warning signals. The Bitcoin market is experiencing the most intense chip transfer in five years — long-term holders who stuck with the coin during its lows are now beginning to sell in large quantities. Data shows that since 2023, these "old coins" have been distributed a total of 1.6 million coins, equivalent to over 140 billion USD in selling pressure. In the past month alone, the pace has accelerated, with long-term holders' distribution frequency reaching a five-year high.

Does this phenomenon sound familiar? History tells us that early profit-takers often realize their gains in the late stages of a bull market. The question is: can new funds (such as continuous inflows into spot ETFs) absorb this massive sell-off? If buying interest cannot keep up, this ongoing supply driven by "smart money" could become the biggest obstacle preventing the coin price from reaching new highs.

BTC-0,49%

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ZKSherlock

· 15h ago

actually... this framing of "smart money" vs new money is kind of oversimplifying the information asymmetry here, ngl. like, are we sure these long-term holders even *know* what they're doing, or just timing some arbitrary profit target? the real question nobody asks: what's the actual trust assumption embedded in this data? who's verifying these on-chain flows aren't just noise? 🤔

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DataOnlooker

· 15h ago

Old coins, the selling pressure this time really can't be withstanded, can ETFs hold it? --- 1.6 million coins dumped, how aggressive is this buying pressure... --- New five-year record? Wow, "smart money" is starting to run away --- So now is the critical moment to buy or not to buy --- This narrative in the late stage of a bull market is always accurate, but the coin price just won't listen --- 14 billion in selling pressure... I feel like a breakdown is coming --- Wait, are they really "smart money," or are they the front wave being cut? --- Spot ETFs can't absorb such a large volume, starting to feel uneasy --- Large-scale reduction by long-term holders, what does it indicate? --- Historical cycle, brother, the next step is... the "top" scenario

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AllInDaddy

· 15h ago

The old coins are starting to sell off, this is getting interesting... 1.6 million coins dumped, can it really hold up? Smart money is fleeing, what does that mean? Should I hold or sell what I have? Is this the late stage of a bull market? Or just a correction? I can't quite tell. The five-year record for distribution frequency, this wave is really pressure-packed. Can ETF buying save the day? Feels uncertain. It's time for another game of strategy—who will be the bagholder? With this pace, are the veteran coins really going to fully retreat?

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ThatsNotARugPull

· 15h ago

Old coins distribute 1.6 million coins, this pace is really unsustainable. Wait, is this what they call smart money exiting? I feel like it's just paving the way for new investors... Can the ETF absorb this wave? Honestly, I don't really believe it. A new five-year record, now it's time to get nervous. The old guys who are bottom-fishing are about to panic. $140 billion in selling pressure, let's see who can withstand it. Is this the late stage of a bull market or the night before a bear market? Anyway, I'm confused. These early profit-takers are really ruthless, dumping so much all at once.

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