Post #8362

📉Seasoned Sellers Step In Bitcoin has been unable to reclaim $126k as long-term holders continue steady distribution. Glassnode data shows experienced investors taking profits after months of accumulation, creating persistent sell pressure. ➡️ Long-term holder spending rose from ~$1B per day in July to $2–3B by early October ➡️ Selling has been gradual and sustained, not panic-driven ➡️ The 6–12 month cohort accounts for over 50% of total sell pressure ➡️ Their average cost basis sits between $93k and $96k — a critical support zone These holders bought during late 2024’s election period and are now realizing gains near the highs. A breakdown below $93k would likely mark their point of maximum pain and possibly the next major reset for Bitcoin’s cycle. 🐴Powered by White Horse