Bitcoin Long-Term Holder Supply Drops to 13.6M BTC as Distribution Accelerates

Bitcoin trades below $90,000 as Long-Term Holders reduced positions by 1.57 million BTC during the quarter, bringing supply to 13.6 million BTC—the lowest level since early 2023. The distribution scale mirrors historical exhaustion phases near cycle peaks. Between November 11 and November 25, this cohort sold 803,399 BTC, reflecting a 5.54% decline with average daily outflows of 53,560 BTC.