Bitcoin’s Older Whales Are Selling as Ethereum Looks for Support
Cryptocurrency News
2 min read time
|Updated: 2026-01-23
Jan 23 market action reflects a familiar late-cycle tension:
older
Bitcoin
holders are distributing, while
Ethereum is trading near a decision zone after failing to hold above $3,000. On-chain data suggests this isn’t pure panic — it’s a
rotation phase where supply changes hands.
Bitcoin (BTC): Long-Term Holders Trigger a “Transition”
CryptoQuant data shows a sharp rise in “revived supply” —
coins inactive for 2+ years moving again, confirming
record selling activity from long-term holders across 2024–2025.
What stands out this cycle:
-
The selling started well below current prices
-
It’s driven by older coins, not a frenzy of speculative inflows
-
Suggests a market ownership transition, not just a price move
Key idea: BTC isn’t only in a price cycle — it’s shifting
who holds it and why.
Ethereum (ETH): Bottom Scenarios Focus on $3K & $2.72K
ETH price briefly reclaimed
$3,000, but slipped back under the level as volatility persisted.
Analysts highlight two key zones:
-
$3,000–$3,050 reclaim → opens upside toward $3,200
-
If rejected again, a potential dip area emerges near $2,720 (roughly ~7% below current levels)
On-chain data adds a supportive layer: the
realized price of accumulation addresses continues rising and is approaching spot price — a signal that
larger holders are still building positions, not exiting.
CoinTR Insight
This looks like a
rotation market, not a clean breakdown:
-
BTC supply moving from older hands often creates choppy, headline-sensitive action
-
ETH decision zones tend to become liquidity magnets, where direction forms fast
In this environment, timing matters less than
execution and risk control. CoinTR’s
deep liquidity and
steady TRY–USDT flow can help users:
-
scale positions without rushing,
-
trade key levels with smoother fills,
-
stay flexible while volatility remains elevated.
Forward-Looking Takeaway
-
BTC: long-term distribution confirms a cycle transition
-
ETH: the market is watching $3K and the $2.72K support scenario
-
Expect volatility until positioning stabilizes and macro pressure fades
Important note: This content is for informational purposes only and does not constitute investment advice.
2026-01-23Legal Notice
The information, comments, and evaluations contained in this content do not constitute investment advice. This content is not intended to be prescriptive in any way and is intended to provide general information. It does not constitute investment advice. CoinTR cannot be held responsible for any transactions made based on this information or any losses that may arise.
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