Early Bitcoin holders accelerate cashing out, reducing 1.6 million coins within two years; selling pressure may ease by 2026.

2025-12-18 00:44:14

【Crypto】Bitcoin has fallen nearly 30% over two months after breaking its all-time high of $126,000. What’s behind this?

On-chain data reveals a phenomenon: those holding Bitcoin for over two years are accelerating their sell-off. From the beginning of 2023 to now, this group of long-term holders has reduced their Bitcoin supply by 1.6 million coins, worth approximately $14 billion. This is the fastest selling pace in recent years.

Even more dramatic is the situation this year. Since 2025, nearly $30 billion worth of Bitcoin, which had been dormant in the market for over a year, has been reactivated and re-entered circulation. In the past month, the distribution volume among long-term holders reached one of the highest levels in five years.

Analysis from data agencies shows that about 20% of Bitcoin supply has been reactivated over the past two years. As institutional integration deepens, the selling pressure from early holders is expected to gradually diminish in 2026.

Simply put: the market is undergoing a major liquidity reshuffle. The old players are cashing out, but this pressure may ease next year.

BTC-0.85%

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GhostInTheChain

· 12-21 00:35

What does shipping 1.6 million tokens mean? Did the scam coin get caught? Or are they really scared?

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ReverseFOMOguy

· 12-20 23:57

1.6 million tokens have been sold, the old hands finally took a loss. This wave is really going to crash, isn't it?

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Blockchainiac

· 12-18 01:13

1.6 million coins? Bro, are you planning to dump the market? The old investor finally cutting his own profits. --- If I had known it would be like this, I wouldn't have chased the high at 126,000. Now I'm bleeding heavily. --- Wait, does this mean the decline will stop in 2026? Or will we continue from martyr to martyress? --- Institutions are eating up the chips, retail investors are taking the losses. Old tricks, indeed. --- Sleep funds of 30 billion USD are waking up. Oh my, where are my stop-loss orders? --- Everyone selling is making money, which means my kind of losing player still has to hold on, haha. --- The old holder's move this time is really brilliant. Once they sell at high, we'll just see if we can pick up the pieces. --- Will the decline end in 2026? With this speed, I think it's still early. The correction has just begun. --- The distribution scale at five-year highs... In other words, is the bottom-fishing opportunity here? --- Those who held for over two years have already sold. I only held for two months and am still adding to my position—typical contrarian move.

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RugResistant

· 12-18 01:12

ngl, 160 million btc moving in two years? that's a red flag pattern if i've ever seen one. analyzed the data thoroughly - looks like institutional accumulation disguised as whale panic selling. further investigation required on those wallet movements tbh.

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WenMoon42

· 12-18 01:05

Finally decided to sell after holding for so long, this wave is indeed quite fierce Brothers are clearing out their positions, no wonder the coins are dropping so much 2026 is a hurdle, once the pressure is released, maybe it will be a different scene

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LiquidationSurvivor

· 12-18 00:53

1. 1.6 million coins have been sold? These old investors finally can't sit still anymore haha --- 2. Same old story, I've seen through it long ago, the cycle of institutions accumulating and retail investors taking the bait --- 3. Will the selling pressure in 2026 subside? Maybe there will be another dip by then --- 4. NGL, this data looks a bit scary, can the market handle 30 billion being poured in? --- 5. Brothers finally decided to make a move, I think they've been trapped too long and their mentality has collapsed --- 6. Wait, does this mean they're still dumping at high prices now? Then should I... --- 7. Damn, 1.6 million coins, how big of a cake does that need to be baked? --- 8. I didn't understand that part about institutional consolidation, can someone translate it into plain language?

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