$BTC Bitcoin's sitting just under $91,500, and something interesting is showing up in the on-chain data. Long-term holder outflows—those wallets that have held for 155+ days—are declining. The netflow is still negative, meaning they're selling, but the rate is slowing down.
What caught my attention is the timing. You'd expect heavy distribution near previous highs, but the pressure seems to be fading instead of accelerating.
Either these holders already took profits earlier, or they're choosing to wait this out. Glassnode's data points to less aggressive selling behavior, which historically can signal the tail end of a distribution phase. Not a reversal signal on its own, but worth watching if you're tracking sentiment shifts.
