Long-term holders are dumping BTC.

Long-term Bitcoin holders (coins aged 18 to 36 months) have reduced their holdings by more than 2 million coins since November 2023, cashing out $138 billion. I have attached a chart.

CryptoQuant has conducted a simulation of the situation, which showed that the trend will continue and by the end of the year, over 500,000 coins will enter the market from long-term holders.

Companies, countries, and small private investors are buying up this supply. Most of the transactions are made through OTC.