Analysis: Long-term Bitcoin holders are selling off significantly, with an average of 53,560 coins sold per day

According to NEWSBTC, analyst Axel Adler pointed out that long-term holders (LTH) of Bitcoin are engaging in large-scale profit-taking, pushing the supply back to the lows seen at the beginning of 2023.

Data shows that the supply held by long-term holders has significantly decreased from a peak of 15.75 million Bitcoins to the current 13.6 million Bitcoins, marking the lowest level since the start of this bull market cycle. Adler noted that this pattern aligns with the "smart money" distribution phase commonly seen near market tops.

In just the past two weeks (from November 11 to 25), LTH sold over 800,000 Bitcoins, a drop of 5.54%, averaging 53,560 sold per day. Historically, such a massive supply compression typically occurs only during significant market turning points.