Long-term bitcoin holders sold over 728,000 BTC in the past 30 days: CryptoQuant

Quick Take

  • Long-term bitcoin holders have sold over 728,000 BTC in the past 30 days, according to data from CryptoQuant. 
  • According to the same data set, the sell-off represents a reversal of whales’ buying hundreds of thousands of bitcoin in October.  

Long-term bitcoin holders have sold over 728,000 BTC in the past 30 days, according to data from CryptoQuant. That is nearly $67 billion worth of bitcoin, at current prices, according to The Block’s bitcoin price page

“This marks the highest sell-off since April,” the firm wrote in an X post. It is also a reversal of a trend of large buyers vacuuming up bitcoins in October, which saw positive inflows of nearly 250,000 BTC.

The steep sell-off comes amid a crypto-wide market rally following the nomination of President-elect Donald Trump, who embraced the blockchain industry while campaigning. Bitcoin, in particular, shot up and set a new all-time high a few dollars shy of $100,000. 

Bitcoin dominance, the measure of its share of the total crypto market cap, is currently around 51%, down from a recent high above 60%, according to TradingView data.


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About Author

Daniel Kuhn is a Senior Journalist and Editor at The Block, where he covers the crypto industry with a particular focus on tech. He previously served as deputy managing editor of opinion/features at CoinDesk. He first appeared in print in Financial Planning, a trade publication magazine. Before journalism, he studied philosophy as an undergrad, English literature in graduate school and business and economic reporting at an NYU professional program. You can connect with him on Twitter and Telegram @danielgkuhn or find him on Urbit as ~dorrys-lonreb.

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