Long-term Bitcoin holders (LTHs) have sharply increased their selling activity, marking the fastest pace of distribution since August 2025, according to on-chain data aggregated by NS3.AI. Over the past 30 days, this cohort has offloaded approximately 143,000 BTC, effectively reversing a brief accumulation phase observed between late December and early January.

Bitcoin long-term holders increase selling as BTC price consolidates near $90,000 amid institutional ETF absorption.

The renewed selling pressure comes as Bitcoin hovers near $90,000, struggling to regain momentum after its late-2025 peak in the $120,000–$126,000 range. In contrast, traditional financial markets continue to outperform: global equities are trending higher, while safe-haven assets such as gold and silver trade at or near all-time highs.

This divergence highlights growing caution among seasoned Bitcoin investors—many of whom accumulated their positions at significantly lower price levels. On-chain metrics indicate that nearly 2 million BTC are currently held at a loss following the recent drawdown, reinforcing incentives for profit-taking and risk reduction.

Analysts view the acceleration in LTH distribution as a near-term headwind for Bitcoin’s price action. Sustained selling could contribute to prolonged consolidation or even further downside if broader risk appetite remains subdued across crypto markets.

That said, structural changes in the current market cycle may help absorb the impact. The rise of spot Bitcoin ETFs, increasing participation from corporate treasuries, and deeper institutional liquidity suggest that LTH distribution may be less destabilizing than in previous cycles.

Market participants are now watching closely to see whether selling pressure eases in the coming weeks. A slowdown in distribution—combined with renewed institutional inflows—could reopen the path toward upside momentum later in the cycle.