Bitcoin long-term holders are taking a breather. The distribution pace has notably decelerated lately. 📉

What's interesting? Net BTC outflows have pulled back from those extreme readings we saw earlier. This signals the market is doing a decent job of digesting the available supply—essentially grinding through that overhead pressure that's been hanging around.

When outflows normalize like this, it typically means we're at an inflection point where supply overhang gets absorbed rather than rejected. Worth watching how this pattern develops.