Anthony Pompliano, CEO of Professional Capital Management, stated on Monday that selling pressure on Bitcoin (CRYPTO: BTC) appears to be easing, pointing to on-chain data from Binance Research.

‘Sustained Long-term Holder Conviction’

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In a video posted on X, Pompliano cited four key data points to back his thesis.

First, he noted that nearly 60% of Bitcoin has not moved in a year, a significant increase from 27% in 2012. This, according to him, was an indication of Bitcoin becoming more “illiquid” over time, in turn pointing to a “sustained long-term holder conviction.”