Long-term holders added approximately 12,349 BTC on Jan. 4, representing a 93% decline from the late-November selling peak of roughly 185,451 BTC.
Binance perpetual liquidation data shows long positions hold approximately $2.24 billion in leverage compared to $416 million in short positions. This five-to-one ratio creates vulnerability to price pullbacks that could trigger cascading liquidations.
Why It Matters: Declining Selling Pressure
Exchange inflow data from CryptoQuant demonstrates a substantial reduction in selling pressure. Total exchange inflows dropped from approximately 43,940 BTC on Dec. 31 to roughly 3,970 BTC by Jan. 5, a decline exceeding 90%.
Santiment data tracking Spent Coins Age Bands shows on-chain activity decreased 80% during the same period, falling from around 28,033 BTC to approximately 5,644 BTC.
Both young and old coins are moving less frequently, indicating holders are maintaining positions rather than distributing into strength.
The pattern projects a measured move target near $104,000 from the current neckline, representing roughly 12% upside potential. Bitcoin must hold above $89,450 to maintain the bullish structure, while a daily close above $94,710 would confirm breakout validity.
Alexey Bondarev is the Head of Content at Yellow.com, having reported on crypto for the last 10 years. He specializes in in-depth Research and Learn pieces, with a focus on analytical reporting, industry context, and the bigger forces shaping crypto, from the AI era and security technologies to fintech innovation. He believes that everything digital will imminently overcome everything analogue and is working hard to make that come true.
