🔥 Key Takeaways
Bitcoin Long-Term Hodlers Pause Selloff
After months of sustained selling pressure, Bitcoin long-term holders (LTHs) — investors who have held BTC for over 155 days — have finally slowed their selloff. This shift suggests that the worst of the capitulation phase may be over, at least for now. Historically, when LTHs stop selling, it often precedes a stabilization phase in Bitcoin’s price, though a full recovery may still take time.
On-chain data indicates that LTHs had been distributing their holdings aggressively during the recent market downturn, likely due to macroeconomic uncertainty and regulatory concerns. However, with the selling pressure easing, Bitcoin’s supply dynamics are becoming more favorable, potentially setting the stage for a future rebound.
Ethereum Whales Go on Accumulation Spree
While Bitcoin stabilizes, Ethereum whales (large holders with 10,000+ ETH) have been actively accumulating. Data from blockchain analytics platforms shows a notable increase in ETH holdings among these high-net-worth investors. This accumulation trend suggests that whales are positioning themselves for a potential ETH price recovery, possibly anticipating the next bull cycle.
Ethereum’s upcoming network upgrades, including further improvements to scalability and fee efficiency, may be contributing to this bullish behavior. Additionally, the growing adoption of Ethereum-based DeFi and NFT projects continues to reinforce its long-term value proposition.
Market Sentiment Remains Bearish Despite Shifts
Despite these positive on-chain signals, broader market sentiment remains cautious. Macroeconomic headwinds, including persistent inflation and rising interest rates, continue to weigh on risk assets like cryptocurrencies. Bitcoin and Ethereum have yet to break key resistance levels, meaning traders should remain vigilant for further downside risks.
That said, the combination of reduced BTC selling pressure and ETH whale accumulation could indicate that the market is nearing a local bottom. If macroeconomic conditions stabilize, crypto assets may see renewed upward momentum in the coming months.
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