Long-term Bitcoin holders have realized $1.7 billion in daily profits as older coins re-enter circulation, according to on-chain data from Glassnode. This influx of sell-side pressure is challenging Bitcoin's price recovery, with the average age of spent coins increasing, indicating that long-term holders are the primary sellers. Analysts interpret this sell-off as a natural market adjustment rather than external manipulation. The activity reflects a typical market cycle where long-term holders capitalize on profits, contributing to current price resistance.