Bitcoin HODLers: Selling Slows, But Are They Ready to Move On? 🚀

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Ah, Bitcoin, that eternal enigma of the financial world, where even the most steadfast investors seem to waver like a leaf in a hurricane. On-chain data has just dropped a bombshell: the long-term holders, those stoic warriors of the crypto realm, are finally easing up on the selling. A potential sign that the market’s equivalent of a toddler having a tantrum might be… gasp… calming down?

Bitcoin Long-Term Holder Netflow Is Getting Less Negative

In a dazzling display of data analysis, Glassnode (the on-chain equivalent of a detective with a magnifying glass) has noted that the netflow of Bitcoin’s long-term holders (LTHs) has been trending less negatively. These LTHs, who’ve held onto their coins for over 155 days, are the cryptocurrency world’s most enigmatic group of investors-like a cult that only meets in the dark and refuses to explain their rituals.

Statistically, the longer you hold a coin, the less likely you are to sell it. Which is why LTHs are often referred to as the “diamond hands” of the market. But even these stoic investors have their moments of weakness, like a toddler who suddenly decides to throw a tantrum at the grocery store. The chart shared by Glassnode is a masterpiece of chaos, showing the LTHs’ netflow as a rollercoaster that’s somehow both thrilling and terrifying.

As the graph reveals, even the most resolute LTHs have dipped into selling during the 2024 bull rallies, as if they were trying to cash in on the excitement. A mid-2025 distribution phase added to the drama, followed by a brief return to the dark side of net inflows. But the latest selloff? It’s like the market’s version of a slow, deliberate walk into a storm-bearish momentum, no price jumps, just a steady drip of uncertainty.

While the selling continues, it’s getting less intense. The netflow is becoming less negative, which, according to Glassnode, means the market is “absorbing long-held supply.” It’s like watching a crowd of people slowly stop throwing confetti into the air-eventually, the chaos subsides, but the question remains: what’s next?

Net outflows have rolled over from extreme levels, indicating that the market is progressively absorbing long-held supply and that a large portion of overhead supply may now be largely worked through.

The Realized Profit, a metric that measures how much LTHs are cashing in, has also taken a nosedive. It’s like watching a magician pull a rabbit out of a hat, only to realize the rabbit was already there the whole time. Glassnode’s analysis suggests this is a sign of “heightened uncertainty,” which, in crypto terms, is code for “we’re all just winging it.”

And here we are, with Bitcoin hovering around $91,800-down 3% in a week. The market’s equivalent of a sigh, a slow exhale after a long, stressful day. Whether this is the calm before the storm or just another episode of “Crypto: The Musical,” only time will tell. But for now, the LTHs are taking a breather, and the rest of us are left wondering if they’ll ever stop being so… delightfully unpredictable.

BTC Price

At the time of writing, Bitcoin is floating around $91,800, down almost 3% in the last seven days. A reminder that even the most resilient assets can have a bad hair day. 📉

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2026-01-13 10:20