#BitcoinPriceOutlook Glassnode has issued a warning about Bitcoin: “A signal that previously caused a decline may have reappeared”

The crypto analysis company Glassnode shared a warning regarding on-chain data in its latest post.
The on-chain analysis platform reported that recent increases in sales from long-inactive Bitcoin wallets over the past few weeks are creating a significant resistance level that limits price increases.

According to the company's social media statement, approximately 62,000 BTC have been moved from long-inactive wallets since mid-October. Glassnode noted that this situation increases supply in the market, making it harder for prices to rise.
Inactive Bitcoin supply has started to decrease. Without strong new demand, upward price movements will face more resistance.

Inactive supply was seen as the main driver of price increases in the current cycle. However, this trend reversal risks weakening market momentum. According to Glassnode, a similar supply reversal occurred in January 2024, leading to a significant loss of about 400,000 BTC in upward momentum. Although the current change is milder, the trend is noteworthy.
Meanwhile, whale wallets continue to increase Bitcoin holdings during this period. Over the past 30 days, there has been a steady increase in whale wallets, and no major sales have been observed since October 15.

Conversely, wallets holding between 0.1–10 BTC have been net sellers over the past year, with approximately $10,000 to $1 million in assets. As momentum investors exit the market, buying funds in a decline have not generated enough demand to counteract selling pressure.
Glassnode warned that if new buyers do not enter the market, this supply-demand imbalance will continue to pressure prices.
THIS IS NOT INVESTMENT ADVICE ()$BTC