Summary
- An analysis found that large-scale selling by Bitcoin long-term holders has largely come to an end.
- In 2024 and 2025, transfers of long-held Bitcoin rose to levels similar to those seen during the 2017 bull market.
- In 2026, transfers of long-held coins have dropped sharply, with this year's total expected to come in at less than half of last year's level.
Forecast Trend Report by Period
Large-scale selling by long-term Bitcoin holders appears to be nearing an end, according to a July 15 analysis.
Alex Thorn, Galaxy Digital's head of research, wrote on X that "2024 and 2025 saw massive amounts of older Bitcoin move on-chain, on a scale comparable to 2017." He added that most of the heavy selling has already played out and that Bitcoin moved in 2026 will likely amount to less than half of last year's volume.
Data he shared showed a sharp jump in transfers of Bitcoin that had been held for more than a year in 2024 and 2025. Transfers were especially elevated among coins held for two to five years or longer, reaching levels similar to those seen during the 2017 bull market.
In 2026, by contrast, transfers of long-held coins have fallen sharply. If the current trend continues, this year's transfer volume will be less than half of last year's total.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.