The post When Will Bitcoin Bottom Out? On-Chain Data Has a Surprising Answer appeared first on Coinpedia Fintech News
Most traders are still waiting for Bitcoin to drop further. But the on-chain data is telling a very different story from what most people read during the crash.
According to CryptoQuant analyst Darkfost, Bitcoin’s long-term holders did not sell as aggressively as the charts suggested. In the 2025 cycle, LTHs spent 15.1M BTC in total, just below the 15.3M BTC spent during the 2021 bull run. Prior cycles saw 7.3M and 13.6M BTC spent respectively.
This comes as Bitcoin trades at $72,419, up 2.95% on the day, even as Brent crude hit $100 per barrel for the first time since 2022 and equity markets sold off on escalating Middle East tensions – a macro backdrop that would historically have dragged crypto lower with it.
The Charts Were Misleading
Part of the confusion came from Coinbase. The exchange moved approximately 800,000 BTC internally, and most of it w
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