#How are Long-Term Bitcoin Holders Affecting the Market?
Long-term Bitcoin holders have significantly impacted the market by selling 815,000 BTC in the last month. This sizable sell-off from veteran investors has intensified the selling pressure, which coincides with a period of subdued market demand for Bitcoin.
The influx of BTC into the market from these established investors has led to a growing supply-demand imbalance, ultimately steering prices of Bitcoin downward. On-chain indicators reveal that the increased market supply surpasses the current interest from buyers, exacerbating the downward trajectory.
While some institutional buyers have taken advantage of this selling activity and absorbed portions of the Bitcoin dumped by long-term holders, overall demand continues to weaken. The sales from existing holders are occurring at a pace that outstrips inflows from exchange-traded funds and major accumulators. This situation contributes to the stalling of any upward momentum for Bitcoin as a digital asset.