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Bitcoin Holders Cashing Out: Price Plunge Ahead?
22 Dec, 2025
Summary
- Long-term Bitcoin holders are increasing selling activity.
- 30-day change in long-term holder supply hit a 20-month low.
- Net unrealized profit/loss for long-term holders declined.
Bitcoin's price action has been volatile, featuring sharp swings and tentative recovery efforts. A significant factor influencing its current trajectory is the weakening confidence among influential long-term holders, who have increased their selling activity in recent sessions.
On-chain data reveals that the 30-day change in long-term holder supply has fallen to a 20-month low, last seen in April 2024. This elevated distribution pressure suggests these investors are reducing their exposure to safeguard existing profits as unrealized gains diminish. This behavior typically weighs on price recovery, increasing supply without a commensurate rise in new demand.
