The cryptocurrency sector is undergoing a major transformation as
Bitcoin
Long-Term Holders (LTH) have initiated a substantial wave of selling, bringing their total holdings down to 13.6 million BTC—the lowest point seen since this cycle began.
Experts describe this as a typical "smart-money distribution phase"
, with LTHs having parted with 1.57 million BTC in the last quarter as prices slid toward $80,000. This heightened selling activity has paralleled a broader market slump,
with Bitcoin tumbling 31% in November to almost $82,000
as U.S. Treasury yields climbed and the Federal Reserve maintained a hawkish stance. The increased sell pressure has fueled debate that the bull run could be entering a weaker stage unless new buyers step in to absorb the excess supply
according to recent reports
.
This LTH selling trend is happening at the same time as a notable insider move at
Life Time Group Holdings
(LTH), whose shares have climbed 7.5% over the last month.
Eric Buss, an executive at LTH, submitted a Form 144
to the SEC to sell 162,722 shares through Fidelity Brokerage Services, as part of a pre-established trading plan. This action comes as Wall Street
forecasts a 46.55% potential gain for LTH
, with an average price estimate of $40.36, supported by positive earnings outlooks and a Zacks Rank 2 (Buy) rating. Still, the stock’s future is under scrutiny, since
analysts' targets have often been overly optimistic
due to institutional influences.
Bitcoin’s recent price movements highlight the market’s vulnerability.
Daily technical charts reveal the asset is struggling to surpass
important resistance points, with the 50-day, 100-day, and 200-day moving averages all trending downward.
Analysts such as Axel Adler point out that the ongoing LTH sell-off
resembles fatigue phases seen in previous cycles, including the March 2024 drop from $73,000 and the October 2024 retreat from $85,000. The sharp decrease in supply—803,399 BTC sold in just two weeks—has
resulted in a 5.54% reduction in LTH balances
, averaging 53,560 BTC sold per day. This has left Bitcoin hovering at a crucial $85,000 support level, with a break below potentially opening the door to further declines toward $78,000 or $72,000
as market statistics suggest
.
Institutional factors add complexity to the outlook.
Even with the ongoing sell-off, stablecoin reserves on exchanges have climbed
to $72 billion, a trend that has historically preceded major Bitcoin rallies.
JPMorgan’s recent upgrade of mining companies reflects optimism
about the sector’s durability, though broader economic uncertainty persists. At the same time,
the Federal Reserve’s upcoming rate decision is highly anticipated
, with the likelihood of a December rate cut now above 70%—a development that could boost risk assets. For Bitcoin, reclaiming the $85,000 level is seen as essential to restoring bullish sentiment ahead of the 2026 cycle.