Bitcoin’s prolonged consolidation above $100,000 is driven by a silent rotation: long-term holders are selling while corporate treasuries and institutional buyers absorb the supply. Analysts reveal this shift through on-chain data, challenging the narrative of pure ETF-driven demand. The market’s fragmented structure further complicates price discovery.
- Long-term Bitcoin holders are selling to institutional buyers, creating a silent redistribution phase amid price stagnation.
- Corporate treasuries and 6M+ holders are aggressively accumulating BTC, a historically bullish signal, but broader on-chain data remains fragile.
- ETF inflows and OTC desk activity distort price impact, as large orders bypass order books, explaining muted price movement despite high demand.
📎 Related coverage from: newsbtc.com
