Long-term “diamond hands” dumped $33 billion in October, $1 billion in daily selling pressure, whales offloading every pump,

What happens when the “diamond hands” start selling too?

https://twitter.com/TruthInTesting/status/1985153759287148836

ChainCatcher news, Glassnode posted on social media that the illiquid Bitcoin supply has begun to decline, with approximately 62,000 BTC moved from long-term dormant wallets since mid-October. When the illiquid supply decreases, more tokens will enter the circulating market, and if there is a lack of strong new demand, the upward price trend will face greater resistance.

In this cycle, the illiquid supply was an important driving force, but the recent reversal has broken this trend. Historically, similar supply backflows often weaken market momentum—there was a larger outflow of 400,000 BTC in January 2024, and although the current change is relatively mild, the trend is worth noting.

https://www.chaincatcher.com/en/article/2215088

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