How Long-Term Holders’ New Strategy Could Rocket Bitcoin to $120K 🚀

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Key Takeaways

Oh my God, can you believe it? Bitcoin daily sales from long-term holders have plummeted below $1 billion, after being a regular thing just last month. It’s like they’ve suddenly decided to become hoarders, reducing their exposure to exchanges. 🤔

Bitcoin [BTC] has been on a winning streak over the weekend, and it’s now just $3,000 shy of hitting its all-time high of $123,091, according to CoinMarketCap. Can you imagine? It’s like the crypto version of winning the lottery! 💰

Turns out, the recent surge is thanks to less selling pressure from long-term holders, and guess what? People are starting to buy again. It’s like a crypto love story! ❤️

Are long-term holders turning bullish?

Glassnode’s latest report has some juicy details. There’s a clear link between Bitcoin’s long-term holder sales and its push toward the magical $120,000 mark. Trading volume has spiked by 32.95% to a whopping $79 billion in the past day, per CoinMarketCap. That’s more than the GDP of some small countries! 🌍

Back in July, these long-term holders were offloading about $1 billion worth of Bitcoin every day. But now, they’re only selling a few hundred million. It’s like they’ve gone from being shopaholics to saving for a rainy day. ☂️

This shift suggests that these investors are getting interested again, which could mean good things for demand. It’s like the crypto version of a comeback tour! 🎤

Unlike the November 2024 peak, when Bitcoin’s fall was driven by ETF holders in the 6-12 month range, the recent selling came from those who’ve held for 3-5 years. They’re taking profits, but the newer holders are hanging tight. It’s like a game of musical chairs, but with Bitcoin. 🎶

Investors prefer to hold Bitcoin again

With the selling pressure easing, it looks like the investors who were pushing daily sales above $1 billion are now opting for the long haul. Binary CDD (Coin Days Destroyed) data, which tracks long-term investor activity, has dropped to zero. Zero! It’s like they’ve all decided to go on a digital detox. 📲🚫

Fund Flow Ratio data from CryptoQuant also shows a decrease in Bitcoin moving to exchanges. The ratio is down to 0.057, meaning fewer assets are heading to exchanges. Lower exchange inflows usually signal buying interest, as the big whales prefer to hold onto their treasure. 🐳

AMBCrypto’s tracking of exchange activity has picked up some interesting buy patterns. It’s like the crypto equivalent of Black Friday, but without the long lines. 🛍️

Investors resume Bitcoin buying

The spot market is looking bullish. In the past day, this group of investors has snapped up $51 million worth of Bitcoin, marking a significant shift in market activity. It’s like a crypto shopping spree! 🛒

This follows a massive $242 million sell-off on August 10th, recorded on the Spot Exchange Netflow on CoinGlass. That was the biggest sell-off since June 9th. But hey, even the best investors have their off days, right? 😅

If this accumulation trend continues, and long-term holders stick to holding rather than selling, Bitcoin is likely to make another big move, break its all-time high, and enter a new phase of price discovery. It’s like the final chapter of a thrilling novel, and we’re all on the edge of our seats. 📖🔥

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2025-08-12 11:07