Long-term Bitcoin holders are holding onto their coins for the first time in six months, with wallets holding BTC for at least 155 days trimming their positions from 14.8 million to 14.3 million. Ether whales are stacking more tokens, with large holders adding around 120,000 ETH since Dec.26.

Analysts at crypto investor newsletter Milk Road noted that addresses holding 1,000+ ETH now control roughly 70% of supply, indicating a rise in smart money expectations for Ethereum. Former BitForex CEO Garrett Jin predicted more flows into Bitcoin and Ether as investors shift from metals.

Traders are cautious after a spike in fear, uncertainty, and doubt over the Christmas weekend, causing Bitcoin to surge back above $90K and then fall below $87K. US traders exiting the market could be contributing to selling pressure, as the Coinbase Bitcoin Premium Index has remained negative.

Read more at Cointelegraph: Bitcoin Long-Term Holders Stop Sell Off as ETH Whales Accumulate