Long-Term Bitcoin Holders Just Stopped Selling After a 260,000 BTC Dump
Bitcoin (BTC) trades close to $76,300 after a 3% day by day slip. Long-term holders spent August promoting into power, and that promoting has now virtually stopped.
That handover left a mark. Coins leaving long-term wallets went to newer patrons, and one degree now decides whether or not they keep in revenue.
Long-Term Holders Sold Harder Than on the Cycle Top
Glassnode information exhibits long-term holder web place change turning sharply detrimental in mid-August. The wave reached roughly 260,000 BTC, the deepest degree since January 2025.
The identical group was beforehand shopping for Bitcoin between March and June.
During the late 2025 all-time high, round 170,000 BTC had been offered by these long-term holders. So, it appears to be like like they offered extra Bitcoin in August, close to the $80,000 worth mark, in comparison with when it was $122,000.
This exhibits how a lot potential revenue many long-term holders missed out on.
However, it appears to be like just like the promoting has stopped dramatically towards September.
Short-Term Holders Flipped Into Profit, For a Moment
CryptoQuant information exhibits who absorbed these cash. Short-term holder (STH) provide in loss had dominated for 9 months, peaking above $600 billion.
August reversed that. Supply-side revenue jumped to roughly $260 billion, whereas losses collapsed towards zero.
However, the flip is already beneath stress. Profit has since fallen to $168.2 billion, and losses have climbed again to $102.6 billion as BTC drifted decrease.
BTC Price Prediction and the $76,500 Line
The day by day chart explains why that flip is wobbling. Bitcoin cleared the descending trendline from its January high, then stalled in early September at $82,613.
That degree marks the 0.618 Fibonacci retracement of the drop from $97,950 to $57,802. Price has since slipped beneath the 0.5 retracement at $77,876.
Support now sits at $76,500. Below it, the $73,000 to $75,000 band strains up with the 0.382 retracement.
Volume has contracted since late August with out a heavy promoting day. Meanwhile, the Relative Strength Index (RSI) has cooled from about 78 to 53.
A maintain above $76,500 and a reclaim of $81,000 would preserve the revenue flip intact. Conversely, a slide towards $73,000 would put most August patrons underwater, as earlier Bitcoin bottom studies warned.
The Four-Year Clock Says a Bottom Is Due
Analyst Root plots Bitcoin on a spiral the place angle marks time and radius marks worth. One flip covers 4 years.
Halvings, all-time highs and cycle bottoms every cluster in the identical zones. The present arm sits the place the 2015, 2018 and 2022 lows fashioned.
That framing rests solely on the four-year cycle holding, a premise rival cycles more and more query.
Long-term holders have stopped including provide. Whether that proves sufficient rests on one quantity, and $76,500 is the place the market solutions it.
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