CryptoQuant Analyst: Bitcoin's New High "Old Whales Selling Very Little", Unlike Previous Cycles!

Bitcoin has reached a new high price but there is no short-term frenzy; long-term holders and institutional funds have jointly created a "more stable" crypto market. (Background: Bessent: The U.S. Treasury "will not buy Bitcoin"; after backlash, they have changed their tune and continue to seek to increase BTC holdings.) (Background information: The U.S. July PPI exploded, Bitcoin experienced a Long Wick Candle at $117,000, and Trump's tariffs sounded the alarm for inflation. Will the Federal Reserve lower interest rates in September?) Bitcoin briefly touched $124,000 in mid-August, setting a new historical high, but the market did not see a repeat of the past "price chasing frenzy". The trading volume on exchanges is moderate, and community engagement is not as boisterous as previous peaks, reflecting a shift in retail investor sentiment to a more silent holder mentality. Price hits a new high, OGs are not selling. According to CryptoQuant analyst Axel Adler Jr. in a post on X, he pointed out that during Bitcoin's surge, long-term holders (LTHs, holding coins for six months to two years ), sold an average of only 20,000 BTC per day, far below the 40,000 to 70,000 BTC commonly seen at past highs. In comparison to the profit pullback at the end of the 2021 bull run, the selling pressure this time has clearly converged, indicating that market participants are thinking about long-term allocations instead of short-term cash-outs. Regarding the accumulation-distribution of the Long-Term Holder cohort holding coins from six months to two years: their supply has risen from 3.551M BTC in April ( when the price was $83K) to 5.191M BTC currently ( +1.64M BTC). During the ATH test at $118K, there was moderate… pic.twitter.com/TTdyHTwV8i — Axel Adler Jr (@AxelAdlerJr) August 15, 2025 Long-term holders' strategy adjustments LTHs currently hold about 53% of the circulating supply, effectively becoming a price defense line. On-chain statistics show that the supply ratio of LTH / STH has decreased by 11% in the past 30 days, with about 52,000 BTC released, providing liquidity to the market instead of panic selling pressure. In early August, this group slowed down their selling again, and the number of days coins were destroyed and the volume transferred to exchanges both declined, signaling that the brief profit-taking phase has come to an end. LTHs have upgraded from holders to "supply regulators", and their pace has made price movements smoother than in the past, also reducing short-term impacts. Wall Street funds have become stabilizers. Another key force comes from the U.S. Bitcoin ETFs, which have total assets under management of $113 billion and continue to see net inflows. Institutions like BlackRock and MicroStrategy position Bitcoin as "digital gold" and a macro hedging asset, providing long-term buying support for prices. Even when the fear/greed index rose to 74, ETFs continued to absorb, diminishing the reference value of traditional topping signals. Under the rhythm of institutions, past daily declines of double digits have now almost all converged to single digits, which is not commonly seen. Related reports: A female official in Guizhou, "Big Data Bureau Chief," stole 327 Bitcoins! Officially denied, it's just embezzlement. Bitcoin surged 10 times but cannot be accessed! A Taiwanese netizen lost a private key, resulting in a loss of 1.5 BTC and is offering a reward of 360,000 for a solution. <CryptoQuant analyst: Bitcoin's new high is due to "old whales selling very little," unlike past cycles!> This article was first published in BlockTempo, the most influential blockchain news media.