[Long-term holders dumped 539,000 BTC; this wall sits above $77,000 🧱]
Group chat: 📲加入X先生的粉丝群聊
CryptoQuant’s latest report presents a figure. In a 30-day window, long-term holders sold up to 539,000 bitcoins. The trading range for this batch of coins is concentrated between $77,100 and $80,200. Based on the current price, the scale is roughly $43 billion. The report says this is currently the heaviest sell-pressure zone. On Friday, Bitcoin has been grinding back and forth around $77,100.
First, it’s important to distinguish two groups here. Long-term holders are classified by holding duration; once they sell, they’re no longer counted in this category. The area from $71,100 to $80,200 is a dense band that has seen repeated trading. Once the price rebounds into this zone, both the capitulation-to-break-even crowd and profit-takers are more likely to sell. Those who converted into cash mostly entered at lower levels. Higher up is the 365-day moving average at $81,700. That’s what CryptoQuant considers the bull-market confirmation line.
What’s truly worth watching is who is absorbing the selling pressure. In mid-August, Bitcoin was still below $65,000. Within a few weeks, it surged above $82,000. This moving average rejected a rebound once again in early September. In this same rally, the same group swapped older coins into cash. On-chain data looking good doesn’t necessarily mean price will rise immediately. It only indicates where the ceiling pressure is.
For crypto, the counterparty to this upswing isn’t new money—it’s old coins. To push the price higher, you first need to slowly absorb this supply. Meanwhile, spot Bitcoin ETFs were in continuous outflows for four days, totaling a net outflow of $462 million over the week. Even on Friday, spot ETFs still saw a daily net outflow of $13.29 million. Ethereum ETFs, by contrast, absorbed $216 million. Total trading volume for the week was $2.6 billion—money hasn’t left; it’s just that no one is chasing.
Do you think this batch of old coins concentrated their selling as a mid-cycle handoff in a bull market—or does it signal the end of the move? Let’s discuss in the comments.
#代币化股票持有者增长619.1%
Group chat: 📲加入X先生的粉丝群聊
CryptoQuant’s latest report presents a figure. In a 30-day window, long-term holders sold up to 539,000 bitcoins. The trading range for this batch of coins is concentrated between $77,100 and $80,200. Based on the current price, the scale is roughly $43 billion. The report says this is currently the heaviest sell-pressure zone. On Friday, Bitcoin has been grinding back and forth around $77,100.
First, it’s important to distinguish two groups here. Long-term holders are classified by holding duration; once they sell, they’re no longer counted in this category. The area from $71,100 to $80,200 is a dense band that has seen repeated trading. Once the price rebounds into this zone, both the capitulation-to-break-even crowd and profit-takers are more likely to sell. Those who converted into cash mostly entered at lower levels. Higher up is the 365-day moving average at $81,700. That’s what CryptoQuant considers the bull-market confirmation line.
What’s truly worth watching is who is absorbing the selling pressure. In mid-August, Bitcoin was still below $65,000. Within a few weeks, it surged above $82,000. This moving average rejected a rebound once again in early September. In this same rally, the same group swapped older coins into cash. On-chain data looking good doesn’t necessarily mean price will rise immediately. It only indicates where the ceiling pressure is.
For crypto, the counterparty to this upswing isn’t new money—it’s old coins. To push the price higher, you first need to slowly absorb this supply. Meanwhile, spot Bitcoin ETFs were in continuous outflows for four days, totaling a net outflow of $462 million over the week. Even on Friday, spot ETFs still saw a daily net outflow of $13.29 million. Ethereum ETFs, by contrast, absorbed $216 million. Total trading volume for the week was $2.6 billion—money hasn’t left; it’s just that no one is chasing.
Do you think this batch of old coins concentrated their selling as a mid-cycle handoff in a bull market—or does it signal the end of the move? Let’s discuss in the comments.
#代币化股票持有者增长619.1%
