Analyst says long-term holders sent more than 297,000 BTC to exchanges as selling pressure builds

CryptoQuant analyst Darkfost said on X that long-term Bitcoin holders are showing a clear rise in selling activity as BTC approaches $80,000. The shift marks a notable change in positioning after a period in which long-term holders had been in steady net accumulation. According to the data cited by Darkfost, the monthly average net change in long-term holder supply had reached a peak increase of 286,000 BTC in early June. That trend has now reversed to a net decline of about 21,000 BTC. He said this is the first time this year that the amount of BTC sold or moved by long-term holders has exceeded the amount of BTC newly entering long-term holder status. At the same time, BTC transfers from long-term holders to exchanges have climbed to their highest level since 2026. Among those cohorts, holders who have held coins for six to 18 months were the most active, sending more than 297,000 BTC to exchanges. Darkfost said the signal warrants close attention, adding that even though market demand has improved, rising selling pressure from long-term holders could tilt the supply-demand balance back toward sellers.