After nearly two years of persistent selling, Bitcoin’s longtime holders have finally hit the brakes. On-chain data confirms that investors who’ve held Bitcoin for more than 155 days—the so-called “long-term holders” or LTHs—have ceased their net selling activities for the first time since July 2025. About time, right?
The two-year crypto sell-fest is over—Bitcoin whales have finally taken their finger off the dump button.
The numbers tell the story. Approximately 10,700 BTC just shifted into long-term holdings, with the 30-day net position change turning positive. That’s a big deal after months of red numbers. The supply change has flipped modestly positive since July 16, marking a genuine shift in market dynamics.
This halt comes after an exhausting distribution phase that dominated the latter half of 2025. Between March 2024 and November 2025, LTHs distributed a staggering 1.4 million Bitcoin. That’s a lot of selling pressure for the market to absorb.
Not everyone caught this shift immediately. Previous analyses got skewed by an 800,000 BTC Coinbase transfer that distorted the metrics. Classic crypto—one whale move messes up everyone’s charts. Once analysts isolated these distortions, the reversal became clear.
Industry experts are taking notice. CryptoQuant CEO Ki Young Ju confirmed the selling stoppage. VanEck’s Matthew Sigel called it a “meaningful shift” that eases a major headwind. James Van Straten pointed out historical parallels to 2019 market bottoms. The recent trend reflects what many consider the largest sell pressure event from long-term holders since 2019 has concluded. Institutional investors are projecting bullish sentiment on BTC with price targets reaching $120,000 in the second quarter.
The implications? Less structural supply pressure heading into 2026. The market can finally breathe without whales constantly dumping on retail buyers. History suggests these halts typically precede recovery and stabilization.
Let’s put this in perspective. Every red yearly candle in Bitcoin’s history has been followed by a green year averaging 124.5% returns. That doesn’t guarantee anything, but it’s an interesting pattern. Bitcoin’s market dominance of approximately 62.7% underscores its position as the primary cryptocurrency investment vehicle.
After the longest distribution phase since 2019, LTHs have finally eased off the sell button. The market can now find its footing without fighting constant sell pressure from the old guard.
