Long-term bitcoin holders sold over 728,000 BTC in the past 30 days: CryptoQuant
2024-11-27

Long-term bitcoin holders have sold over 728,000 BTC in the past 30 days, according to data from CryptoQuant. That is nearly $67 billion worth of bitcoin, at current prices, according to The Block’s bitcoin price page. 
“This marks the highest sell-off since April,” the firm wrote in an X post. It is also a reversal of a trend of large buyers vacuuming up bitcoins in October, which saw positive inflows of nearly 250,000 BTC.
The steep sell-off comes amid a crypto-wide market rally following the nomination of President-elect Donald Trump, who embraced the blockchain industry while campaigning. Bitcoin, in particular, shot up and set a new all-time high a few dollars shy of $100,000. 
Bitcoin dominance, the measure of its share of the total crypto market cap, is currently around 51%, down from a recent high above 60%, according to TradingView data.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.