Furthermore, the same long-term holders are actually accumulating more Bitcoin and currently hold 67% of the circulating supply, which is still lower than the amount held by long-term holders in 2017.
Evidence of accumulation of Bitcoin by whales has been identified by the team at Santiment who shared their analysis in the tweet below.
As is the case with Ethereum, Bitcoin is experiencing selling pressure due to the expiration of BTC options and futures tomorrow, April 30th.