Fidelity: Long-Term Holder Selling Behind Bitcoin Weakness Despite ETF Demand
Fidelity attributes recent Bitcoin price softness to gradual selling by long-term holders, even as institutional demand from ETFs and corporate treasuries remains steady. The firm points to on-chain metrics showing a falling share of coins that have been untouched for more than a year, a pattern consistent with controlled profit-taking rather than an abrupt, broad-based sell-off.
This nuance matters because it suggests downward pressure is coming from systematic extraction of gains rather than a sudden loss of confidence — a dynamic that can cap rallies and prolong range-bound trading without triggering a crash. For investors, the takeaway is that ETF inflows and corporate purchases may not immediately offset slow, sustained selling from holders monetizing gains, so price moves could remain choppy until the supply-demand balance shifts decisively.