Bitcoin has reached a critical selling zone, with long-term holders significantly reducing their profit-taking activities. Glassnode's on-chain data reveals that these holders, who have maintained their Bitcoin for over five months, are currently selling around 12,800 BTC weekly. This is a stark decrease from the over 100,000 BTC sold weekly when Bitcoin prices exceeded $100,000 last year. The slowdown in sales has eased some resistance to price rebounds, though the current price range continues to suppress gains. Analysts caution that any significant trend reversal will require overcoming the selling pressure from long-term holders. Additionally, rising geopolitical tensions could heighten market risk aversion, potentially exerting downward pressure on Bitcoin prices.