Bitcoin Myth Debunked: 800K BTC "Sell-Off" Revealed as a Hoax

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Dec 20 2025

BTC+2.546%

LIKE+0.120000005%

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Distorted Metrics from Coinbase Transfer: A significant transfer of 800,000 BTC by Coinbase in November 2025 skewed on-chain long-term holder (LTH) metrics, leading to misleading narratives about mass selling among Bitcoin holders.
Corrected Data Reveals Normal Patterns: Adjusted charts show that, after accounting for Coinbase's internal operations, LTH distribution patterns align with historical Bitcoin cycles, indicating normal accumulation and distribution rather than panic selling.
Importance of Context in Data Analysis: Analysts stress the necessity of adding context to raw on-chain data to prevent misinterpretations that can influence market sentiment and trader behavior.
Resilience of Bitcoin's Price: Despite recent corrections, Bitcoin's price remains strong, serving as a reminder for investors to verify data sources and interpretations before making financial decisions.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	36430	48215	61165.75	72950.75	85901.5	97686.5	110637.25
Fibonacci	48215	57664.056	63501.694	72950.75	82399.807	88237.443	97686.5

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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