Bitcoin’s Bull Run Hits a Speed Bump: Long-Term Holders Take Profits

Bitcoin's rally slams the brakes as diamond hands finally loosen their grip. After months of relentless upward momentum, the king of crypto faces its first real test of 2025.

Profit-taking or panic? The market watches closely as Bitcoin's most steadfast believers start cashing out chips. This isn't your average paper-handed retail trader exodus—these are the OGs who survived previous cycles.

The great HODLer unwind begins. While some see this as healthy profit-taking, others whisper about potential turbulence ahead. After all, when the 'strong hands' start selling, it's time to pay attention.

Wall Street analysts shrug—'just another day in crypto's volatility casino'—while quietly adjusting their own positions. The irony? These same institutions spent years mocking Bitcoin before jumping on the bandwagon.

Each bar in the chart shows the amount of bitcoin that last moved within a specific price range. The entity-adjusted version of this data show above accounts for the average purchase price of each entity’s full balance and excludes internal transfers between addresses owned by the same entity, which do not represent genuine market activity. It also filters out supply held on exchanges, because aggregating millions of users’ funds into a single price point WOULD create distortions in the data.

With minimal supply sitting between $110,000 and $116,000, as shown by the dip at the right-hand side, the market remains vulnerable to sharp moves in either direction.