• he forecast was linked to the sharp drop in inflows to Blackrock’s IBIT spot ETF.
• Long-term holders would book profits on average if they decide to sell their coins.

Bitcoin [BTC] long-term holders (LTH), understood to be the cohort holding the asset for at least six months, become a widely-discussed topic during a bull market. This is because they target this phase for profit-taking after quietly accumulating during the bear market.

LTH selling to increase in the days to come?

An on-chain analyst and verified author at CryptoQuant drew market’s attention towards a likelihood of LTH increasing their deposits to exchanges in the days ahead, fueling speculation and anxiety.

The forecast was linked to the sharp drop in inflows to Blackrock’s IBIT spot ETF, the second-largest in terms of overall holdings, and the one which led the wave of inflows over the past two months.