CryptoQuant: The current market selling pressure comes partly from investors who have held Bitcoin for 3-5 years, but it has little impact on the mar

CryptoQuant on-chain analyst @XBTManager pointed out that some of the selling pressure in the current market comes from investors who have held Bitcoin for 3-5 years, also known as "old Bitcoin" holders. Although the number of these holders is not large, they can still have a direct impact on the market. Analysis shows that the proportion of holders selling coins for 3-5 years is about 4%, 2-3 years is about 8%, 12-18 months is about 4%, and 6-12 months is about 2%. Sometimes more coins are transferred, sometimes less. The rest of the selling pressure mainly comes from intraday traders. Overall, after the old Bitcoin enters the exchange, the price of Bitcoin may fall, but since their quantity is small, this selling pressure will not last for a long time, and the price should recover shortly after the initial impact.