Bitcoin holders clamp down on selling – Assessing its impact – BitRss

• Bitcoin’s LTHs are distributing slower, signaling a potential shift in market sentiment
• Historical trends suggest reduced LTH selling pressure often leads to upward price momentum

Bitcoin’s [BTC ($94,269.69)] price seemed to be hovering around 12% below its all-time high at press time, leaving many to wonder about the future direction of the market. Despite this dip, however, LTHs continue to distribute their Bitcoin holdings, albeit at a slower pace.

In fact, on-chain data revealed a key shift – While LTHs are still selling, the rate of distribution has begun to slow. More importantly, the 30-day percent change in LTH supply suggested that this distribution cycle may have hit its peak, signaling that the selling pressure could soon ease.

LTH distribution trends