Bitcoin News

Story: Bitcoin Sell-Off Driven by Mid-Cycle Wallets as Long-Term Whales Hold Steady: VanEck

By Dan Saada

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Mid-Cycle Wallets Lead the Latest Wave of Selling. VanEck’s analysis shows that the majority of Bitcoin being sold during the current market downturn…

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Bitcoin Trades Near Multi-Month Lows. The report arrives at a time when Bitcoin is struggling near multi-month lows.

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Analysts Weigh In: OG Selling, Derivatives Volatility, and Macro Pressure. Nic Puckrin, CEO of Coin Bureau, told Euronews that older, large-balance holders—often called…

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Mid-Cycle Selling Aligns With a Shift in Holder Behavior. VanEck emphasizes that the decline in the 3–5 year age band—down 32% over the past two years—is…

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Futures Market Shows Signs of a Positioning Reset. VanEck’s report also highlights a notable reset in Bitcoin’s futures market.

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Smaller Whales Are Accumulating While Larger Ones Trim. A deeper look into wallet cohorts reveals another important trend.

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A “Reset State” That May Precede a Tactical Rebound. VanEck concludes that the convergence of three factors—long-term holder stability, cohort…

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Bitcoin’s latest downturn is being fueled primarily by mid-cycle holders, while the oldest long-term whales continue to hold firm, according to asset manager VanEck’s new…

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VanEck’s analysis shows that the majority of Bitcoin being sold during the current market downturn comes from wallets that last moved coins within the past three to five years.

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In contrast, the oldest cohort—wallets holding Bitcoin for more than five years—has remained “remarkably steady.

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The report arrives at a time when Bitcoin is struggling near multi-month lows. As of late Thursday evening, Bitcoin was trading around $86,696, down more than 3% on the day and…

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Analysts have identified several factors contributing to the decline, including widespread forced liquidations, increased offshore derivatives volatility, and distributions by…

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Meanwhile, Carol Alexander, finance professor at the University of Sussex, said Bitcoin’s recent swings also point to aggressive offshore trading activity.

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VanEck emphasizes that the decline in the 3–5 year age band—down 32% over the past two years—is not a sign of mass capitulation among ultra-long-term holders.

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This rotation contrasts sharply with the behavior of decade-long holders, who continue to accumulate and hold.

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