Galaxy Spots A Major Shift In Long-term Bitcoin Holders

For two years, the earliest bitcoin holders regularly fueled the market by selling part of their holdings. However, this dynamic has just stopped. In the second quarter, the oldest wallets, inherited from the early days of the network, almost ceased transferring their BTC. This unprecedented slowdown in selling pressure, highlighted by Galaxy's on-chain data, could change the market balance. Behind this calmness, a cycle change may be emerging that traditional indicators still struggle to reflect.

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