In a dramatic twist for the cryptocurrency market, long-term Bitcoin holders—often dubbed the “patient ones”—made headlines on Friday by unloading a staggering 97,000 BTC, equivalent to nearly $3 billion. This unprecedented single-day sell-off marks the largest move of its kind this year, contributing to the mounting bearish sentiment engulfing the market.
A Seismic Shift in Holder Dynamics
Blockchain analytics firm Glassnode reports an alarming spike in the 14-day moving average of BTC spent by long-term holders, now peaking at 25,000 BTC—levels unseen since January. For those unfamiliar, Glassnode classifies long-term holders as entities that have maintained their BTC for over 155 days. And this patience seems to be wearing thin.
Bitcoin’s price, which took a notable 3.7% dip to $108,000 on Friday, continued its slide, touching $107,400 by early Monday. As of this writing, Bitcoin has settled at $103,330, a stark 16% tumble from its all-time high of $124,429, as per CoinDesk’s data. These figures paint a vivid picture of a market grappling with uncertainty. This aligns with recent observations where Bitcoin whales send BTC price under $109.5K as market ‘wobbles’ into US PCE, indicating a broader trend of market instability.
Unpacking the Sell-Off: A Look Under the Hood
The reasons behind this surge in profit-taking are as varied as they are compelling. At the heart of it lies a psychological phenomenon: Bitcoin reaching the $100,000 mark. It’s a figure that not many assets can boast, and it appears to have triggered a wave of profit-taking among investors who see this price point as an opportune moment to cash in.
“This isn’t just about numbers,” says crypto analyst Rachel Nguyen. “It’s about psychology. When an asset hits a landmark like $100K, it becomes more than just a number—it’s a psychological barrier. Investors start questioning the sustainability of such heights.” This sentiment echoes concerns that the Bitcoin bull market will be ‘over’ if $100K BTC price is lost, highlighting the critical nature of this price level.
Indeed, the recent activity suggests a market still coming to terms with Bitcoin’s new valuation plateau. The six-figure price tag is likely to be a contentious battleground, with broad trading ranges expected as stakeholders acclimatize to this elevated valuation.
Historical Echoes and Future Pathways
While the current sell-off is significant, it’s crucial to note that we’re not witnessing the frenzied liquidation reminiscent of late 2024. Back then, profit-taking was rampant, fueled by a confluence of factors ranging from regulatory uncertainties to technological shifts in the crypto space. Today, the narrative seems more measured, albeit no less impactful.
As Bitcoin continues to navigate these choppy waters, questions linger about the road ahead. Will the market stabilize around the $100,000 mark, or are we in for more volatility? “It’s a pivotal moment,” remarks blockchain expert Daniel Cho. “The market’s reaction in the coming months could set the tone for Bitcoin’s trajectory well into 2026.”
In the meantime, all eyes remain on the long-term holders—those enigmatic entities that quietly shape the crypto landscape. Their next moves could either bolster confidence or further shake a market already on edge. As September unfolds, the crypto community watches with bated breath, eager to see how this story evolves.
Source
This article is based on: Bitcoin Long-Term Holders Spend 97K BTC in Largest One-Day Move of 2025
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
