Long-Term Holder supply continues to #trend lower, but the pace of decline has slowed significantly compared to the heavy distribution seen in Q3, Q4 2025. LTHs remain net sellers, though selling pressure is clearly moderating. For a sustainable rally, the market needs a #shift where maturation supply exceeds LTH spending, allowing LTH supply to turn higher, a structure last seen during Aug 2022, Sep 2023 and Mar 2024, Jul 2025, both of which preceded stronger and more durable recoveries. #crypto
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Long-Term Holder supply continues to #trend lower, but the pace of decline has slowed significantly compared to the heavy distribution seen in Q3, Q4 2025. LTHs remain net sellers, though selling pressure is clearly moderating. For a sustainable rally, the market needs a #shift where maturation supply exceeds LTH spending, allowing LTH supply to turn higher, a structure last seen during Aug 2022, Sep 2023 and Mar 2024, Jul 2025, both of which preceded stronger and more durable recoveries. #crypto