Bitcoin fell below $77,000 to trade at $76,901 after an hour of brutal annihilation hit the crypto market.
According to Coinglass data, around $600 million in positions were liquidated in 60 minutes, forcing leveraged traders to exit rapidly and sending the entire market into the red.
The pain for US spot Bitcoin ETFs was clear. Last week, these funds reportedly put out about 13,000. $BTC In net withdrawal amount. Over 4,000 $BTC came from Arklink products, indicating that ETF demand had cooled before the recent low break.
Long-term holders continue to buy Bitcoin as ETF demand weakens
CryptoQuant’s Bitcoin exchange netflow data across all exchanges still shows large withdrawals from trading platforms earlier this year. Coins leaving exchanges are often associated with whale purchases or long-term storage, so traders typically monitor this type of activity closely.
Bitcoin ($BTC) The supply of long-term holders has increased to approximately 15.26 million people. $BTCThis is the highest level since August 2025. CryptoQuant analyst Darkfost said these wallets added about 316,000. $BTC Last 30 days. This is a big change from late November, when the same group reduced its balance by about 650,000. $BTC Over a period of 30 days.
The latest developments show that investors who bought around the cycle high about six months ago are now among the more stable investors in the market.
Darkforst writes:
“The supply held by long-term holders (LTH) investors continues to increase. $BTC. Now it’s back to 15.26 million. $BTC These investors are generally considered to be much more stable than STH. ”
Dirkforst also pointed to another date that traders are keeping an eye on. Approximately 800,000 $BTC Coins that left Coinbase last year will reach the six-month age line on May 23rd. Once that is achieved, these coins will fall into the long-term holder category. That could allow supplies to rise again later this month even without new purchases.
The market is also awaiting the release of the FOMC minutes, scheduled for May 20th, which will summarize the minutes of Jerome Powell’s last Federal Reserve meeting as chairman.
Michael Saylor hints at more Bitcoin purchases, Strategy drives STRC vote
Meanwhile, Michael Saylor on Sunday put Strategy Inc.’s (NASDAQ:MSTR) Monday Bitcoin purchases back on his radar, posting on X “Big Dot Energy” next to a chart tracking Strategy Inc.’s Bitcoin purchases over nearly six years.
Michael later posted a similar purchase chart before Strategy announced new Bitcoin purchases. Because of this, traders are once again paying attention. Strategy’s acquisition this week would increase the company’s current holdings to $818,869. $BTC.
At the Bitcoin price used at the time of writing, Strategy’s holdings are worth just under $67 billion.
Strategy last week asked retail investors to vote on changes related to STRC, a floating rate Series A perpetual stretch preferred stock, after Strategy’s official X account asked holders to support a proxy proposal that would allow the company to pay STRC dividends twice a month instead of once.
Cryptopolitan previously reported that Strategy reported that the twice-monthly payment plan would reduce the wait time for dividends to be reinvested, increase trading liquidity, allow markets to function more smoothly, and could help STRC move closer to its $100 target price.
The company also said that if shareholders approve the proposed amendment, the annual dividend rate will not change.
