The share of bitcoins aged 6 to 12 months deposited on exchanges has fallen to 4.4% over the past 30 days, down from 40.4% in June 2025, according to on-chain data from CryptoQuant. These are mainly buyers who arrived at the cycle peak and have stopped selling, with only 9,100 BTC sent to exchanges in the latest window compared to 63,800 BTC in June. Total volume moved remains massive at 205,400 BTC, versus 157,700 BTC in June. This drop in selling pressure removes a headwind under bitcoin’s price, hovering around $82,000, but new buyers remain absent. Ki Young Ju, CEO of CryptoQuant, considers the bear market cycle over and expects 12 to 24 months of upside or range-bound trading.
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