In the past month, long-term Bitcoin holders have sold over 241,000 BTC, creating pressure on the cryptocurrency's price. Analysts are warning of potential further declines.
Sales by Long-term Holders
Long-term Bitcoin holders (LTH), entities holding coins for at least six months, have started selling off after Bitcoin hit record highs above $124,500 in August. According to analyst Maartunn, the LTH supply has decreased by 241,000 BTC over the past 30 days, worth about $26.8 billion at current market prices. "That’s one of the largest drawdowns since early 2025." (CITE_W_A)
Bitcoin Price Dynamics
The price of Bitcoin dropped 14% from its record high of $124,500, reaching a seven-week low of $107,500. Currently, the price has recovered to around $111,500. Data indicates the formation of a bear flag on the daily chart, which may lead to further declines toward a target level of $95,500.
Future Prospects
Despite treasury companies setting a record at 1 million BTC, analysts have noted a slowdown in purchasing rates. The demand from institutional investors is also decreasing, which could exacerbate declines. "Treasury Company demand continues to collapse. They are still buying, but the rate of companies purchasing per day continues to fall." (CITE_W_A)
The recent sales by long-term holders and the activities of treasury companies could significantly impact Bitcoin pricing in the coming weeks. It is expected that the price may reach $95,000 or lower if trends continue.
