Glassnode’s analysis on the X platform later today (13th) pointed out that long-term holders are accelerating the distribution of Bitcoin, and their holdings are rapidly declining, with net position changes falling significantly into negative territory.
![图片[1]-Glassnode: Bitcoin long-term holders are accelerating their selling; CryptoQuant analyst: Deleveraging may still bring a new round of price increases.-OzABC](https://www.ozabc.com/wp-content/uploads/bitcoin-10k-guard-post-leverage-reset-800x533.webp)
addBitcoin blockchain data platform Glassnode released its latest analysis on the X platform later today (13th), indicating that long-term holders (LTH, holding for more than 155 days) are accelerating the distribution of Bitcoin, and the amount of Bitcoin held is rapidly decreasing, with the net change in holdings having fallen significantly into negative territory. Glassnode emphasized:
“Long-term holders are taking profits aggressively as Bitcoin holds above $100,000.”
Is Bitcoin still poised for a rebound?
In response to Glassnode’s post, CryptoQuant analyst Darkfost quickly added more detailed data on the X platform. Darkfost pointed out that the main force behind the selling pressure in the market is actually “OGs” (Original Gamers), namely Bitcoin whales who have held their Bitcoins for more than 5 years, and most of these Bitcoins were acquired at prices below $6,000. Darkfost stated, “So far in this cycle, the inflow of funds from OGs has reached unprecedented levels, and almost all of the LTH selling pressure comes from these veteran holders.” However, Darkfost continued to point out that the good news is that “this selling pressure has begun to show signs of easing today.”
In addition, Darkfost published an independent analysis post earlier today, in which he offered a more optimistic assessment. Darkfost stated that the market has officially entered a deleveraging phase since the major crash on October 10th. Currently, Bitcoin’s total open interest has fallen by 21% in the past 90 days, approaching the levels seen during the two major corrections in September 2024 and April 2025. He explained, “In a bull market, this kind of deleveraging activity is often a prelude to a trend reversal, clearing out high leverage and allowing the market to resume its upward trend on a healthier foundation.”
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