Long-term Bitcoin holders have sold approximately $14 billion worth of holdings. Summary: According to K33 Research and CryptoQuant monitoring, Bitcoin has fallen nearly 30% within two months after breaking its all-time high. Since 2023, early holders have been cashing out at a faster rate, with about 1.6 million Bitcoins re-entering circulation. Selling pressure is expected to weaken by 2026. Odaily Planet Daily reports that, based on monitoring by K33 Research and CryptoQuant, Bitcoin has fallen nearly 30% within two months after surpassing the $126,000 all-time high. On-chain data shows that the supply of Bitcoin held for at least two years has decreased by 1.6 million coins since early 2023, worth about $14 billion, indicating that early holders are cashing out at the fastest rate in recent years. Since 2025, nearly $30 billion 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 points out that about 20% of Bitcoin supply has been reactivated over the past two years. As institutional integration deepens, the selling pressure from early holders is expected to diminish by 2026. (Bloomberg)#GateLaunchpadKDK认购上线