Bitcoin: The slowdown in sales by holders revives hopes for a recovery.
The current signal regarding Bitcoin is quite clear: long-term investors are selling less, which reduces the pressure on the market. VanEck speaks of a "potentially constructive" bias, which does not imply immediate euphoria, but rather a sign that the ground is no longer shaky under the feet of buyers.
In short
Long-term investors are reducing their positions less.
Miners remain under pressure, but at the moment they are not selling aggressively.
The bias is becoming more constructive, but the macroeconomic factor still controls it.
Old bitcoins are moving less
This change occurs in a still unstable market. Bitcoin was trading around $71,000 on March 20, 2026, while the macroeconomic environment remained tense after the Federal Reserve's decision to maintain interest rates and the resurgence of geopolitical uncertainties. In other words, the recovery has slightly improved, but the ceiling has not yet disappeared.
The central idea of VanEck's report is simple: older portfolios are spending less of their bitcoins. The volume of transfers has decreased month by month across all ranges of cryptocurrency age, suggesting that more experienced users are distributing less of their holdings than before.
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