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Long-term Bitcoin holders have offloaded a massive 405,000 BTC over the past 30 days, marking one of the largest distribution waves in recent history.
Historically, such heavy selling from long-term holders often happens near market tops or during macro uncertainty, as early investors take profits or rebalance positions.
Despite this, Bitcoin’s price has shown relative resilience, suggesting strong absorption from new buyers and institutional inflows.
This shift could signal a cooling phase after months of accumulation or a potential redistribution period before the next major move. $BTC