Bitcoin long-term holders have been net sellers for seven weeks, but the rally continues
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Bitcoin long-term holders have reduced holdings for seven straight weeks, yet price has continued rising, implying demand is absorbing incremental supply. LTH position change turned negative in mid-August and recent outflows accelerated, while LTH SOPR above 1 indicates profit-taking into strength. Near term, the key risk is a shift from orderly distribution to heavier selling coinciding with stalled price momentum.
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⚠️ AI سے تیار کردہ تجزیاتی سمجھ خبروں کے مواد پر مبنی ہے اور صرف معلوماتی مقاصد کے لیے فراہم کی گئی ہے۔ یہ سرمایہ کاری کا مشورہ نہیں ہے اور نہ ہی BingX کے خیالات کی نمائندگی کرتی ہے۔ سرمایہ کاری میں رسک شامل ہے۔ براہ کرم ذمہ داری سے ٹریڈ کریں۔
BlockBeats reported on Oct. 6 that analyst Axel Adler Jr. said Bitcoin long-term holders (LTHs) have been cutting positions for seven straight weeks, even as BTC prices keep climbing—suggesting market demand is still absorbing the added supply.
On-chain data show the long-term holder position change indicator flipped negative on Aug. 17 and has stayed below zero since. By Sept. 28, the indicator fell to 73,400 BTC, versus 1,100 BTC a week earlier. Even so, the current drawdown remains well below the November 2025 peak of 1.07 million BTC.
Adler also noted that LTH SOPR has held above 1 for two consecutive weeks, reaching 1.18 on Sept. 28. That implies coins recently moved by long-term holders were sold at an average gain of about 18% over cost basis.
Adler Jr. said the current pattern points to profit-taking into strength. He added that the key risk would be an acceleration in selling pressure at a time when Bitcoin's price stops advancing or turns lower.
