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[K33: Selling Pressure from Long-Term Bitcoin Holders Nears Saturation, Allocation Cycle May Be Ending] The K33 report indicates that the selling pressure from long-term Bitcoin holders is nearing saturation. Since 2024, the supply of Bitcoin held for over two years has decreased, with approximately 1.6 million BTC (around $138 billion) flowing into the market, primarily to U.S. Bitcoin spot ETFs and corporate profit realization. K33 predicts that the supply of Bitcoin held for over two years may end its downward trend by 2026 and exceed the current level of approximately 12.16 million BTC.