Main Points :
- Long-term Bitcoin holders (holding for ≥155 days) sold approximately 97,000 BTC on August 29—largest one-day outflow in 2025
- This spike lifted the 14‑day moving average of LTH selling, though still below the extreme levels seen in late 2024
- The sold coins came predominantly from holders of 1–2 years (~34.5k BTC), 6–12 months (~16.6k BTC), and 3–5 years (~16k BTC), accounting for about 70% of the volume
- Bitcoin’s price dipped toward ~$107,000 after the sell‑off, then rebounded to around $109,000–$110,000 by Monday
- Institutional investors and corporations—such as Goobit and Satsuma Technology—continued to accumulate Bitcoin, offsetting some selling pressure
- ETF flows turned risk‑off with ~$127M exiting BTC funds and ~$165M exiting ETH funds on that day
- On‑chain metrics suggest the market remains within normal behavior for this cycle, not yet showing signs of blow‑off top distribution
Introduction: Long-Term Holder Selling Surges
In a significant on‑chain event reported by Glassnode, long‑term Bitcoin holders (LTHs)—defined as those holding BTC for 155 days or more—sold roughly 97,000 BTC on Friday, August 29, 2025. This constituted the largest single‑day LTH outflow observed so far in 2025.
This outflow caused a noticeable increase in the 14‑day simple moving average (SMA) of LTH selling activity, although it remained within the range typical for the current market cycle and did not reach the extremes seen in October–November 2024.
Economic Actors Driving the Movement
A breakdown by coin age shows that:
- ~34,500 BTC originated from holders in the 1–2 years range
- ~16,600 BTC came from holders in the 6–12 months range
- ~16,000 BTC came from those holding for 3–5 years
- These cohorts comprise approximately 70% of the total LTH sell volume.
Price Reaction & Market Context
Bitcoin’s price reacted with a decline of around 6.5%, touching levels close to $107,000 before recovering slightly to trade around $109,000–$110,000 early in the week.
ETF flows on that same Friday signaled a risk‑off mood: approximately $127 million exited U.S. spot BTC ETFs, while about $165 million exited ETH funds—reversing the inflow trend seen earlier in August.
Market Dynamics: Selling Within Cycle Norms
Glassnode’s analysis emphasizes that while this one‑day LTH sell‑off is notable, it remains well below the large distribution peaks of late 2024. In that sense, the market is still behaving within the norms of this cycle.
Key technical levels mentioned include:
- Support in the $107k–$108.9k band
- Resistance around $113.6k
- A deeper downside zone at $93k–$95k, should selling intensify.
These zones may serve as pivotal in price direction, depending on whether demand—either retail, institutional, or ETF-related—returns to absorb the increased supply.
Institutional Accumulation Counters the Sell-Off
Even as long‑term holders offloaded large volumes, institutional players continued to accumulate:
- Sweden’s Goobit Group AB bought an additional 1.0197 BTC, raising their total holdings to 11.6491 BTC, valued at approximately $1.25 million.
- Satsuma Technology added 22.65 BTC to their treasury, bringing their total to 1,148.65 BTC.
These moves underscore a growing trend of corporations absorbing supply, particularly during periods of market drawdown.
Broader Market Signals
Despite short‑term volatility:
- Delta Cap, which historically acts as a long‑term valuation floor, remains well below current BTC price—indicating structural resilience.
- The Coinbase Premium Gap remains elevated, suggesting U.S. institutional investors are paying higher prices than global buyers—often a precursor to bullish momentum.
- On‑chain metrics and bull‑market indicators (e.g., CoinGlass signals) still show no evidence of overheating.
This visual aids understanding of where the sell pressure originated within the long‑term cohort.
Continuous Narrative
The spike in long‑term holder selling reflects strategic profit‑taking amid a market that already reached record highs in mid‑August. Yet, the fact that LTH selling remains within cycle norms suggests that this may be a healthy consolidation rather than a trend reversal. The reaction in price—declining to the $107k zone before stabilizing—signals that buyers may still be ready to step in at key support levels.
Corporate treasuries continue to show strong interest in Bitcoin, with Goobit and Satsuma increasing their holdings even as retail holders rotate into profits. ETF flows, however, tell a more cautious tale—with significant outflows on the same day—a reminder of the market’s susceptibility to external macro or sentiment shifts.
On‑chain metrics, institutional demand signals, and structural support levels collectively suggest a balanced but fragile environment. If BTC can reclaim resistance above $113k–$114k, it may indicate absorption of selling pressure and pave the way for renewed upside. Conversely, failure to do so could open the door to deeper correction toward the $93k–$95k zone.
For blockchain practitioners and crypto investors exploring new asset opportunities, these dynamics illustrate the continuing interplay between long‑term conviction and tactical profit‑taking, the influence of institutional and corporate accumulation, and the importance of monitoring on‑chain signals and ETF flows to understand the evolving Bitcoin market structure.
Conclusion
On August 29, 2025, long‑term Bitcoin holders initiated the largest one‑day sell‑off of the year—about 97,000 BTC—primarily from coins held 6 months to 2 years. This triggered a price dip toward $107k, followed by a rebound to $109k–$110k. Despite this, the selling remains within the cycle’s expected range and hasn’t triggered panic. Institutional and corporate demand helped cushion the impact. With ETF flows turning cautious and key technical zones at play, Bitcoin stands at a crossroads: either absorbing the added supply and resuming its climb, or slipping into a broader consolidation. For forward‑looking investors and professionals exploring blockchain’s practical realm, this event underscores the importance of on‑chain analysis, holder behavior segmentation, and the balancing act between profit‑taking and long‑term accumulation.
