Long-term Bitcoin holders are buckling under pressure following this month's sell-off, as a weakening accumulation trend heralds a deeper correction.
📝 What you need to know
How low can Bitcoin go? On-chain data point to $54,000 as the next support level, analysts argue, as long-term holders find themselves underwater following the ongoing sell-off.
Traditionally the strongest hands in the market, long-term holders are buckling under pressure, with the 7-day exponential moving average of the Long-Term Holder Spent Output Profit Ratio (SOPR) dropping below 1—a sign that veteran investors are now realizing losses.
Meanwhile, Bitcoin treasury firm Strategy continued to scoop up BTC even as its stash sits underwater, with the company making its fourth-largest buy of the year. Across the water, its Japanese counterpart Metaplanet disclosed a full-year loss of $605 million, having yet to announce a Bitcoin purchase in 2026.