{"id":66622,"date":"2026-01-07T05:01:35","date_gmt":"2026-01-07T05:01:35","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=66622"},"modified":"2026-01-07T05:01:35","modified_gmt":"2026-01-07T05:01:35","slug":"bitcoin-record-lth-selling-inflated-by-exchange-transfers-cryptoquant-head-says","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=66622","title":{"rendered":"Bitcoin \u2018Record\u2019 LTH Selling Inflated By Exchange Transfers, CryptoQuant Head Says"},"content":{"rendered":"
\n

CryptoQuant\u2019s head of research has highlighted how the recent high levels of Bitcoin HODLer selling were inflated by internal exchange moves.<\/p>\n

Recent Bitcoin Long-Term Holder Selling Hasn\u2019t Been At True Record Levels<\/h2>\n

In a new\u00a0post<\/a>\u00a0on X, CryptoQuant head of research, Julio Moreno, has talked about the recent selloff from the Bitcoin\u00a0long-term holders (LTHs)<\/a>.\u00a0The LTHs refer to investors who have been holding onto their coins for a period longer than 155 days. Statistically, the longer an investor keeps their tokens dormant, the less likely they are to sell them at any point. As such, the LTHs with their long holding times are considered to include the resolute hands of the market that are unlikely to part with their coins.<\/p>\n

That said, there are times when these diamond hands do take to selling. One major such selloff occurred in November of this year, as the chart shared by Moreno shows.<\/p>\n

\"Bitcoin<\/p>\n

At the height of the Bitcoin LTH distribution in November, the 30-day sum of spending hit a record high of 1.55 million BTC. The analyst has pointed out, however, that this figure doesn\u2019t tell the entire story.<\/p>\n

The value of the LTH distribution doesn\u2019t exclude sources that don\u2019t correspond to economic transactions. For example, internal wallet moves<\/a>. It turns out that such transfers skewed the market picture notably this time around. \u201cA significant portion of LTH spending was due to exchange internal transactions,\u201d explained Moreno.<\/p>\n

According to CryptoQuant data, at least 0.65 million of the \u201cHODLer selling\u201d actually corresponded to internal wallet shuffling from cryptocurrency exchange Coinbase<\/a>. Thus, the distribution from the group didn\u2019t quite reach the levels that could be considered as new records.<\/p>\n

This wasn\u2019t the first time that internal exchange transactions exaggerated LTH selling. As is visible in the chart, there was a sharp spike in Coinbase\u2019s internal transfers of LTH-aged coins back in December 2018 as well.<\/p>\n

While adjusting for internal Coinbase shuffling lessens the scale of the latest diamond hand selloff, it doesn\u2019t quite eliminate it. The monthly LTH spending still hit a notable level of 0.9 million BTC at the peak in November.<\/p>\n

The only time in the current cycle that the metric exceeded this mark was in December 2024. In fact, as the chart below displays, this selloff was the fifth highest on record.<\/p>\n

\"Bitcoin<\/p>\n

The record for the highest amount of Bitcoin LTH selling is still maintained by August 2017, which witnessed 1.4 million BTC in movements from the cohort.<\/p>\n

BTC Price<\/h2>\n

At the time of writing, Bitcoin is floating around $93,800, up almost 7% in the last seven days.<\/p>\n

\"Bitcoin<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

CryptoQuant\u2019s head of research has highlighted how the recent high levels of Bitcoin HODLer selling were inflated by internal exchange moves. Recent Bitcoin Long-Term Holder Selling Hasn\u2019t Been At True Record Levels In a new\u00a0post\u00a0on X, CryptoQuant head of research, Julio Moreno, has talked about the recent selloff from the Bitcoin\u00a0long-term holders (LTHs).\u00a0The LTHs refer […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-66622","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/66622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=66622"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/66622\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}