Long-term Bitcoin holders sold nearly $300 billion worth of BTC in 2025, but as this sell pressure declines, a bullish outlook for 2026 has emerged.
Update (Jan.11, 2026, 7.35 UTC): This article has been updated to correct the LTH supply figure to 13.6 million BTC.
Bitcoin’s long-term holders (LTHs) went through one of the most aggressive distribution phases on record in 2025. While the scale of selling rattled the market, onchain data analysis suggests that this pressure may be fading, possibly outlining the next bullish period for BTC price.
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