BTC Long-Term Holder spending is picking up as Apparent Demand flips negative distribution pressure is back.
On-chain data shows a sharp increase in 30-day LTH spending, with long-dormant coins moving back into the market at some of the highest levels seen this cycle. At the same time, Apparent Demand has turned red, pointing to weaker spot absorption and a fading buy-side.
Historically, this mix rising LTH distribution alongside negative demand — tends to appear near late-stage rallies or local tops. It’s often when smart money sells into liquidity while price starts struggling to hold momentum.
Price action is already responding with higher volatility and downside pressure as supply begins to outweigh bids. If demand doesn’t flip back positive soon, deeper pullbacks and sharp shakeouts remain likely before any meaningful recovery.
Keep a close eye on demand. As long as red dominates while LTH spending stays elevated, risk remains high.