Axel Adler: Long term Bitcoin holders have reduced their holdings for 7 consecutive weeks, but the market can still absorb selling

Crypto analyst Axel Adler stated that long-term Bitcoin holders have been reducing their holdings for seven consecutive weeks, but the market is still able to absorb their selling pressure. Data shows that long-term holders increased their holdings of approximately 1.2 million BTC in May, but switched to reducing their holdings starting from August 17th. As of September 28th, their holdings decreased by 73400 BTC, an increase from a decrease of 1100 BTC a week ago. Compared to the reduction of approximately 1.07 million BTC in November 2025, the current reduction scale is relatively limited. In addition, the SOPR indicator for long-term holders has been higher than 1 for two consecutive weeks. On September 28th, the indicator was 1.18, reflecting that long-term holders are achieving a profit of about 18%.