Bitcoin’s price has held steady above the $100,000 mark since early May, yet the journey has not been without its hiccups. A notable dip occurred on June 22, when geopolitical tensions between Iran and the U.S. sent ripples through the markets—ripples that, coupled with typically low weekend trading volumes, were less about substance and more about sentiment.
The Puzzle of Price Suppression
Despite the volatility, whispers of market manipulation persist. Analysts point to the substantial selling by long-term holders—those who have clung to their coins for more than three years, and in some cases, over a decade. This, according to Checkmate, a prominent crypto analyst, is not the work of market manipulators eager to cash in on a bull market. “Look at all this price suppression selling by market manipulators who acquired their coins more than 3 years ago and are definitely not selling for profit in a bull market… Much paper,” he quipped, suggesting the selling pressure stems more from strategic repositioning than outright manipulation.
The narrative of market suppression often gains traction during extended periods of price consolidation. Bitcoin’s current plateau has led to speculation and, of course, the inevitable chatter about whether the market is purposefully being held back. Yet, the data tells a different tale, one of persistent selling pressure rather than a grand conspiracy to suppress. This aligns with concerns about market fatigue, as discussed in Bitcoin Market Fatigue Grows: Could BTC Price Drop Below $100,000?.
Long-Term Holders: A Market Force to Reckon With
The revived supply breakdown by age reveals a significant trend: seasoned holders are parting with their coins. This isn’t merely a footnote in the broader crypto market but a key dynamic shaping Bitcoin’s current behavior. As Checkmate noted, “Always chopping sideways. Suppression == Boredom.” His comments underscore the reality that the market’s sideways movement might be less about intentional suppression and more about the natural ebb and flow of trading strategies.
Bitcoin’s consolidation has occurred in the backdrop of increased institutional interest, with public companies worldwide acquiring Bitcoin and U.S.-based exchange-traded funds providing new avenues for investment. Yet, despite these bullish signals, Bitcoin has yet to break through to new all-time highs above $112,000. The interplay of these factors—long-term holder sales, institutional adoption, and macroeconomic events—paints a complex picture of a market in transition. Interestingly, despite a drop in miner revenue, selling pressure remains absent, as noted in Bitcoin Miner Revenue Drops to 2-Month Low, but Selling Pressure Remains Absent: CryptoQuant.
A Glimpse into Future Trends
As we stand at the halfway mark of 2025, the path forward for Bitcoin remains as tantalizingly unpredictable as ever. The interplay between long-term holder activity and broader market dynamics raises intriguing questions. Will institutional adoption balance out the selling pressures from these seasoned holders? Or will new market entrants drive the next wave of price action?
The current landscape suggests that Bitcoin’s price action is less a tale of suppression and more a story of maturation. With each twist and turn, investors and analysts alike continue to navigate the complexities of this ever-evolving market. As Bitcoin holds its ground above $100,000, the coming months promise to reveal whether this is merely a pit stop on the road to new heights or the beginning of a prolonged period of introspection.
In the end, the narrative that unfolds will depend on a myriad of factors—some predictable, others not. The only certainty is that the journey will be anything but dull.
Source
This article is based on: Bitcoin Price Not Being Suppressed, Selling by Long-Term Holders, Checkmate Says
Further Reading
Deepen your understanding with these related articles:
- Bitcoin Demand is Drying Up, What Does This Mean? (CryptoQuant)
- Bitcoin Price Drops to $101K, Where’s the Bottom?
- Bitcoin Crashed Below $100,000 Amid US Airstrikes On Iran And Market Sell-Off
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
