Bitcoin Long-Term Holder Data Distorted by Coinbase’s 800,000 BTC Wallet Restructuring – Blockonomi
TLDR: Coinbase moved 800,000 BTC on November 22-23, destroying old UTXOs and creating new ones at $85,000. The exchange operation distorted metrics across all platforms, affecting UTXO data and realized values. Bloomberg reported unprecedented selling based on skewed data before analysts manually corrected the figures. Adjusted analysis shows long-term holders distribute normally, consistent with previous…