According to the latest GlassNode data, the sharp drop early this morning wasn't due to a sell-off by long-term holders. Data on bitcoin:native holdings over a year shows no signs of decline (selling off); in fact, holdings have continued to increase. This means long-term holders haven't sold; in fact, they've been adding to their positions. PS: To clarify for those who might be confused, this data doesn't only include Bitcoin held at this time last year. Long-term holders also include those who bought BTC with an average holding period exceeding one year. Therefore, the increase in this data indicates that long-term holders haven't sold and may even be continuing to buy. @Gate, for more market information.