Bitcoin’s great rotation: Long-term holders pass supply to a new generation of buyers
Long-term holders are quietly transferring supply to a new generation of buyers, but looming Federal Reserve rate hikes could still trigger the capitulation markets have been waiting for.
Source: CoinDesk
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DW NOTE
Bitcoin has fallen 50% from its October 2025 peak of $124,000 and has been trapped between $60,000 and $80,000 for five months while the Fed holds rates at restrictive levels with inflation still running at 4.3%. The RHODL compression without a crash means long-term holders are distributing into a sideways grind rather than a capitulation event — so far. If the Fed tightens into a weakening market, the panic sale this cycle has avoided will arrive late.