TechFlow news, according to CryptoQuant data, during this Bitcoin downturn, approximately $2.4 billion worth of Bitcoin held for 3–6 months has been transferred. Analyst Cauê Oliveira pointed out that this indicates some investors who bought Bitcoin at the beginning of the year are increasing selling pressure, possibly because their speculative expectations around ETFs and the halving event were not fulfilled. Although classified as "long-term" holders, these investors are behaving more like short-term traders.
On the other hand, Bitcoin holders with positions exceeding one year have yet to show significant selling activity, indicating that true long-term holders remain steadfast.




