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Bitcoin has recently retaken that pressure zone at the end of last year that people both love and hate. But this time, the scene is a bit different from before. In the past, whenever Bitcoin rose, those long-term holders who had accumulated at low levels would start to get restless, eager to sell off and cash out. Now? The situation has clearly loosened.
According to the latest tracking data from on-chain analytics firms, "old players" holding coins for over 5 months are changing their strategies. When Bitcoin broke through $100,000 last year, this group was selling over 100,000 coins weekly, fearing they might miss the chance if they hesitated. But now, that number has been cut from over 100,000 to 12,800 coins. From collective cutting of losses to moderate selling, this shift is a significant signal.
An on-chain analysis report straightforwardly states: "Although some profit-taking is still happening in the market, the intensity this time is much milder than the group-style escape seen before." In other words, selling pressure is easing, leaving room for future market movements.
However, the road ahead for Bitcoin is still tough. Currently, the price is stuck between $93,000 and $110,000, a zone that has been the "death valley" since November last year. Every time Bitcoin tries to break upward, it hits this lower boundary and gets pushed back down. Several attempts have been made, but each rally has been abruptly halted.
The key point is this: to truly reverse the major trend, it’s not enough to just slow down selling. Long-term holders must fully digest and absorb their holdings, which is a necessary condition for the price to move steadily upward. From the data, the situation is loosening, but breaking through still requires patience.