Odaily Planet Daily reported that, according to K33 Research and CryptoQuant monitoring, Bitcoin has fallen nearly 30% in two months since breaking the all-time high of @12.6@ million USD. On-chain data shows that the supply of Bitcoin held for at least two years has decreased by 1.6 million coins since the beginning of 2023, worth approximately @14@ billion USD, indicating that early holders are cashing out at the fastest rate in recent years. Since 2025, nearly @30@ billion USD worth of Bitcoin that has been dormant for over a year has re-entered circulation. In the past 30 days, the distribution volume among long-term holders has reached one of the highest levels in five years. K33 Research pointed out that about 20% of Bitcoin supply has been reactivated over the past two years. As institutional integration deepens, it is expected that selling pressure from early holders will diminish in @2026@. (Bloomberg)
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