Veteran Investors Are Selling Four Hundred Thousand Bitcoin Supply in Thirty Days → Insights

A sophisticated blue and silver mechanical core with a transparent, four-pronged central structure is partially enveloped by a textured, white, porous substance. The intricate design showcases internal mechanisms and clear pathways, highlighting a dynamic operational system

A close-up view reveals a sophisticated blue and silver mechanical structure, partially submerged and interacting with a white, bubbly foam. The effervescent substance flows around the intricate gears and metallic segments, creating a dynamic visual of processing

Briefing

Experienced Bitcoin investors are in a significant distribution phase, a clear signal that long-term conviction is being converted into realized profit. This suggests the market is currently absorbing a substantial supply injection, which creates structural friction against price appreciation and confirms a necessary deleveraging. This thesis is proven by the Long-Term Holder Net Position Change metric, which shows approximately 400,000 BTC has been sold off in the last 30 days.

Context

The core uncertainty in the market is whether the recent price volatility represents a healthy consolidation or the beginning of a deeper correction. Investors are wondering if the recent rally was a local peak and if the most successful holders are now exiting, or if new demand can quickly absorb the supply being sold.

A clear, geometric crystal pyramid sits atop a vibrant blue circuit board, encircled by four white, articulated segments. This visual metaphor represents a fundamental component of blockchain technology, such as a validated block or a node in a decentralized network

Analysis

The Long-Term Holder Net Position Change metric tracks the 30-day net flow of Bitcoin held by veteran investors → those who have held their coins for over 155 days. A positive reading means these experienced hands are accumulating supply; a negative reading means they are distributing, or selling. The current deeply negative reading shows that the selling momentum from these long-term holders is not only active but also accelerating. This sustained distribution injects massive supply into the market, directly counteracting new demand and forcing a period of price weakness until the supply is fully absorbed.

Two intricately designed metallic gears, featuring prominent splined teeth, are captured in a dynamic close-up. A luminous, translucent blue liquid actively flows around and through their engaging surfaces, creating a sense of constant motion and interaction, highlighting the precision of their connection

Parameters

Key Metric → Long-Term Holder Net Position Change – Tracks the 30-day net flow of Bitcoin held by investors for over 155 days.
Distribution Volume → 400,000 BTC – The approximate volume of Bitcoin sold by long-term holders in the past 30 days.
Timeframe → Past 30 Days – The period over which the significant distribution occurred.

The image displays an abstract winter scene featuring various geometric shapes, birch logs, and spheres, all partially covered in snow and reflected on a pristine surface. Dominant colors are deep blue and white, creating a clean, modern aesthetic

Outlook

This significant distribution phase suggests the near-term market will remain under pressure as the new supply must be cleared by fresh demand. The market is unlikely to see a sustained upward move until this selling pressure eases. A key counter-signal to watch for is a sharp and sustained reversal of the LTH Net Position Change metric back toward zero or positive territory, which would indicate that veteran investors have stopped selling and are beginning to accumulate again, signaling a potential local price bottom.

A detailed macro photograph captures a circular brush head, featuring blue and white bristles, entirely covered in a delicate layer of frost crystals. The intricate icy formation highlights the texture and structure of the bristles, creating a visually striking pattern around a central opening

Verdict

Veteran investor distribution is injecting significant supply into the market, confirming a period of structural friction and downside risk.

long term holder, supply distribution, net position change, investor behavior, profit taking, selling pressure, market cycle, structural bias, on chain data, bitcoin supply, price bottom, downside risk, accumulation phase, selling momentum, veteran investors Signal Acquired from → tradingview.com