Long-term Bitcoin holders have significantly reduced their selling activity after offloading approximately 260 000 BTC in mid-August. This volume represents the largest outflow from long-term wallets since January 2025, surpassing the 170 000 BTC sold during the all-time high period in late 2025.
Data from CryptoQuant indicates that short-term holders absorbed the supply, with their profitable supply peaking at roughly $260 billion in August. However, as the price of Bitcoin fluctuated, this profit figure dropped to $168,2 billion, while losses rose to $102,6 billion.
Bitcoin is currently trading near $76 300. Technical analysis highlights a critical support level at $76 500. Analysts suggest that maintaining this level is essential to keep the current profit distribution among short-term holders intact, while a drop to the $73 000–75 000 range could push recent buyers into losses.
The market is also observing long-term cyclical patterns. Analysts note that the current price trajectory aligns with historical lows observed in 2015, 2018, and 2022, based on a four-year cycle model. Meanwhile, the Relative Strength Index has declined from 78 to 53, reflecting a cooling in market momentum.
