📊 Long-term holders $BTC who have held coins for two years or more have set unprecedented sales records during the bull markets of 2024 and 2025.
🛡 CryptoQuant's research indicates that the selling behavior in this cycle differs from previous bull markets.
💰 The renewed supply of Bitcoin from long-term holders has surged dramatically, with 2024 and 2025 becoming the highest years in the history of Bitcoin supply recovery.
⚙️ This trend indicates a reassessment of market exposure among holders, especially after prices exceeded $40,000.
📅 Data from early 2026 show a moderate recovery in supply compared to the peaks of the previous two years, indicating a potential shift in market dynamics. In this context, this shift raises questions about the validity of the four-year price cycle and the future of Bitcoin, as it faces underperformance compared to other asset classes. The behavior of long-term holders is a critical signal of change in this evolutionary landscape.
