Throughout March, Bitcoin’s price stayed mostly within a limited range, briefly reaching $75,000 before dropping back to between $63,000 and $71,000. While the price has been fluctuating within this range, the recent trading activity suggests an interesting pattern in who is currently selling Bitcoin.
Short-Term Holders Dominate Sell-Side Pressure
According to a recent analysis by TeddyVision on CryptoQuant, Bitcoin’s price may seem steady, but short-term holders are still actively selling their Bitcoin. This finding is based on tracking how quickly Bitcoin is being deposited onto exchanges, specifically looking at coins held for a short period.
This metric tracks the age of Bitcoin being sent to exchanges to understand if people are selling recently purchased coins or coins they’ve held for a long time. According to an analyst, most of the Bitcoin currently entering exchanges is from coins held for between 0 and 12 months – often referred to as short-term holders – and can also include those who are transitioning their holdings.
Although long-term Bitcoin holders (STHs) seem to be contributing to the current selling pressure, analyst TeddyVision notes that most of these older investors haven’t been actively selling. While there have been brief periods of activity, these spikes are usually triggered by specific events and don’t indicate a widespread, ongoing effort to sell off their Bitcoin holdings.
The current market situation shows that less confident investors are selling, which is increasing the available supply, while more confident investors are holding onto their assets. This makes sense historically, as those investing for the long term usually sell when prices are rising strongly, not when the market is stable.
Market Absorbs STH Supply As Structural Strength Builds Up
It’s noteworthy that Bitcoin’s price has remained relatively stable even as more short-term holders are distributing their coins. Typically, increased selling from these holders leads to significant price drops, a pattern seen in the market until February 6th when the current price stabilization began.
Data from the Coinbase Premium Index supports the idea that there’s growing support for Bitcoin. Analyst TeddyVision points out that conditions in the US market initially pushed the index into negative territory. However, as the price stabilized, the index recovered from these lows, and Bitcoin stopped reacting to selling pressure.
Currently, the Bitcoin market appears to be shifting, and the recent selling by long-term holders actually suggests increasing strength. However, this doesn’t guarantee prices will go up soon. As of right now, Bitcoin is valued at $66,930, with little change in price over the last day.
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2026-04-04 18:05