According to a report by cryptocurrency data company CryptoQuant, Bitcoin’s long-term investors have been selling regularly as prices remain at high levels over the past six months. This distribution process, monitored with on-chain data, continued until last January.
Behavior Change in Long-Term Investors
After January 12, 2026, there was a significant change in the selling trend of long-term investors. When the Bitcoin price fell to the $62,000 to $68,000 range, this group turned to accumulation again instead of selling. The report shows that the average daily purchase amount has increased to 115 Bitcoin since the beginning of the year, while the selling pressure from long-term investors has almost completely disappeared.
Effect on Market Structure
The return to the accumulation model indicates that the value perception of long-term investors in the market has come into play again at low prices. Historically, similar behavior has generally been observed during periods when long-term investors thought the price had reached reasonable levels. This situation can play an important role in the balance in the market by reducing the supply on the selling side.
Its Reflection on Price Movement is Uncertain
The report states that repurchasing by long-term investors has not yet triggered a strong price increase. It is emphasized that despite the increase in the purchase scale, there is not enough demand for a large-scale recovery in the market. Accordingly, even though the selling pressure has decreased, a new buying wave has not yet emerged to support the rise.
The market structure is currently described as neutral and fragile. Long-term investors are buying, but it is not possible to see a strong momentum in prices yet.
The report submitted by CryptoQuant states that “although long-term investors are buying again, a strong expansion process has not started in the market.”
Historical data shows that such selling-to-buying periods can often be precursors to significant market movements. However, it does not seem possible for a permanent trend to begin in the market without new participants and mass demand.
If the accumulation trend strengthens in the coming weeks, the foundations of recovery can be laid. Otherwise, the horizontal course of prices and instability may continue.
The only certainty for now is that there has been a significant pause in selling by long-term investors. It continues to be monitored whether this is a short-term stabilization or the first signal of a larger trend transformation.
