Bitcoin Long-Term Holders Distributed Record 1.14M BTC in November 2025, Analyst Sees Q1–Q2 Consolidation Ahead
Bitcoin long-term holders distributed a record 1.14 million BTC during a 30-day period in November 2025, the most intense sell-off in over five years, analyst Biraajmaan Tamuly said on Jan. 10, BlockBeats reports. On-chain data show nearly $300 billion in coins inactive for over one year returned to circulation in 2025, with the sharpest selling occurring between Nov. 15 and Dec. 14, while LTH supply later stabilized around 13.6 million BTC. Tamuly noted the long-term/short-term holder supply ratio fell to about -0.53 in December, a level historically associated with bottom formation or moves to new highs, and said the October price weakness followed by November's record distribution signals capitulation-style selling rather than orderly profit-taking. He expects Bitcoin to consolidate and form a base in Q1 and Q2 2026, with sustained upside more likely to emerge in Q3.