Bitcoin long-term holders (LTHs) have made their biggest move of the year, spending nearly 97,000 BTC, worth around $10.6 billion, according to on-chain data from Glassnode. The event, recorded last Friday, marks the largest single-day outflow from this cohort in 2025 so far.
LTHs are defined as investors holding Bitcoin for more than 155 days, a group often considered less likely to sell given their conviction and historical holding behavior. However, recent market shifts have prompted an acceleration in their activity, sparking speculation about changing sentiment among long-term investors.
Spike Driven by 1–2 Year Holders
Data shows that the largest portion of this spending spike came from Bitcoin held between one and two years. This group sold approximately 34,500 BTC, while other segments such as 6–12 months and 3–5 years contributed around 16,000 BTC each.
Glassnode’s 14-day simple moving average (SMA) highlighted a clear surge in long-term holder spending volumes, although the jump was primarily fueled by this single-day spike rather than sustained selling pressure.
Market Context
The timing of the sell-off coincided with Bitcoin’s price dip last week, with the cryptocurrency sliding toward $107,000. Since then, Bitcoin has rebounded slightly and was trading near $109,500 on Monday morning. Analysts suggest that some long-term investors may be locking in profits amid concerns that the current bull cycle is slowing down.
Despite the notable sell-off, the overall spending activity among LTHs remains below the levels seen in the final quarter of 2024. This could suggest that while profit-taking is occurring, conviction among the broader base of holders remains intact.
As Bitcoin continues to hover around six-figure territory, market participants will be closely monitoring whether this selling event was an isolated move or a signal of broader market shifts ahead.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
