K33 Says Long-Term Bitcoin Holder Selling May Be Nearing Exhaustion

Bitcoin’s prolonged sell-side pressure from long-term holders may be approaching its limits after years of steady distribution, according to a new report from research and brokerage firm K33. Key Takeaways: About 1.6 million BTC from long-term holders have returned to circulation since 2024. K33 says the scale points to deliberate selling, not technical wallet movements. Institutional liquidity has enabled early investors to exit at high prices. The firm argues that a large portion of early holders has already taken profits, potentially setting the stage for a shift in market dynamics. 1.6M BTC From Long-Term Holders Has Re-Entered Circulation Since 2024 In a recent note , K33 head of research Vetle Lunde said Bitcoin supply held in unspent transaction outputs (UTXOs) older than two years has been declining consistently since 2024. Over that period, roughly 1.6 million BTC, worth about $138 billion at current prices, has re-entered circulation, signaling sustained onchain...

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