Long-Term Bitcoin Holders Halt Sales After Dumping 260,000 BTC

Bitcoin (BTC) is trading around $76,300 after a 3% daily decline. Data shows that long‑term holders, who had been selling into the August rally, have now largely stopped adding supply.

Long‑Term Holder Activity in August

Glassnode metrics indicate that the net position of long‑term holders turned sharply negative in mid‑August, reaching a net outflow of roughly 260,000 BTC. This is the deepest weekly outflow since January 2025. The same cohort had been net buyers between March and June. During the late‑2025 all‑time high, about 170,000 BTC were sold by long‑term holders, meaning the August outflow was larger despite a lower price level (around $80,000 versus $122,000).

Short‑Term Holders Flip to Profit – Then Falter

CryptoQuant data shows that short‑term holder (STH) supply, which had been in loss for nine months, briefly moved into profit in August. Profit‑holding STH supply peaked at roughly $260 billion, while loss‑holding supply fell toward zero. Since early September, profit has retreated to about $168.2 billion and losses have risen to $102.6 billion as BTC price drifted lower.

Key Price Levels and Technical Context

The daily chart shows Bitcoin clearing a descending trendline from its January high, then stalling near $82,613 in early September. That level corresponds to the 0.618 Fibonacci retracement of the move from $97,950 to $57,802. The price has since slipped below the 0.5 retracement at $77,876, with immediate support identified around $76,500. Below that, the $73,000‑$75,000 band aligns with the 0.382 retracement.

Volume has contracted since late August, and the Relative Strength Index (RSI) has cooled from about 78 to 53. Holding above $76,500 and retaking $81,000 would sustain the short‑term profit flip, while a decline toward $73,000 could push many August buyers into loss.

Four‑Year Cycle Perspective

Analyst Root plots Bitcoin on a spiral chart where each turn spans four years, aligning halvings, all‑time highs and cycle bottoms. The current segment sits near the zones that hosted lows in 2015, 2018 and 2022. This perspective assumes the four‑year cycle continues to influence price behavior.

Overall, long‑term holders have ceased adding supply, and the market’s next move may hinge on whether Bitcoin can hold above the $76,500 threshold.