Long-term holders sell 245K BTC as macro conditions pressure market

Bitcoin is trading above $70,000 as traders work to stabilise price after a sharp sell-off last Friday that briefly pushed BTC below $60,000 and erased nearly $10,000 in a single session. Onchain data shows long-term holders recorded a –245,000 BTC net position change last week, the largest daily outflow since December 2024.

Despite this distribution, long-term supply rose to 13.81 million from 13.63 million BTC in 2026, reflecting the time-based nature of long-term classification as supply continues to age even while older cohorts sell. The long-term holder spent-output profit ratio (SOPR) regained a position above 1 on Monday, signalling a recovery after realised losses.

With Bitcoin trading above the overall realized price of $55,000, this may align with a base or bottom-building phase. Macroeconomic factors remain the main driver of near-term volatility: January U.S.

United States

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