Bitcoin Long-Term Holder Selling Eases as Wallet Balances Rebound

Long-term investors in Bitcoin (BITSTAMP:BTCUSD) have reduced their total holdings by roughly 345,000 tokens since late July, bringing overall balances down to 16.06 million from 16.41 million. However, the recent rate of wallet outflows has slowed noticeably, with balances actually growing by 40,000 tokens over a recent three-day span despite a 9,000 token drop across the preceding week.

The shift suggests that profit-taking among veteran holders may be stabilizing. With the market price trading near $82,110 and long-term holders having an average acquisition cost of around $48,600, investors remain sitting on average unrealized gains of approximately 70%. In addition, distribution frequency has cooled off, dropping from a yearly high of 13 selling days within a 15-day stretch down to 10 days.

Market participants should monitor whether distribution days decline further toward a typical baseline of seven days out of 15, which would signal sustained relief from selling pressure. Conversely, a return to 13 or more distribution days would indicate that older tokens are once again flowing back onto the market in greater volume. Investors should also note that wallet balance changes can reflect simple self-custody transfers rather than outright market sales.