According to PANews on October 9th, CryptoQuant analyst Axel Adler Jr. stated that long-term holders have sold a total of 295,000 BTC over the past 30 days, an average of approximately 9,800 per day. While this sales volume is high, it is not extreme compared to the peaks of 800,000 BTC in May and December 2024. The analysis indicates that as long as market demand for BTC can absorb this selling pressure, current capital flows remain consistent with a bullish trend.