Arab Chain
Binance Reveals Bitcoin’s Strength in September Despite Long-Term Holder Sales
The latest data from Binance, the largest platform in terms of Bitcoin trading volume, indicates that September saw active movement from long-term coins, with marked price fluctuations from $117K to $108K. The categories that held Bitcoin for 6m–12m, 12m–18m, and 18m–2y showed relatively steady contributions. This activity suggests that investors who bought during the cycles of the past two years have begun to move a portion of their holdings. The correlation of these movements with the decline from $117K to $112K suggests that they are more profit-taking than a broad sell-off. While long-term coin flows (over 2 years) were significantly higher, the categories of 3–5 years, 5–7 years, and even 7–10 years were also active. However, the 7–10-year category was the least active among them and appeared intermittently throughout the month. This reflects that long-term investors who held Bitcoin for extended periods took advantage of the high price levels to sell a portion of their holdings. Nevertheless, the price’s continued stability near $110,000 despite these inflows demonstrates that the market has absorbed these pressures without collapsing. As for very old coins (10 years or older), activity in this category did not show any notable movement, which often raises concerns in the market because they represent "sleeper coins" that could suddenly return. The contribution from this category was minimal, indicating that the market did not face sudden pressure from these rare holdings. Bitcoin demonstrated remarkable resilience in September, as the market absorbed sales from coins held for 3–7 years without experiencing a collapse, reinforcing the strength of its fundamentals and continued demand.