Bitcoin HODLers Spend 97,000 BTC in Largest 2025 Sale
Glassnode on-chain analytics reveal that Bitcoin long-term holders (LTHs) accelerated spending this week, culminating in a single-day transfer of 97,000 BTC (approximately $10.6 billion) on Friday—the largest outflow by the LTH cohort in 2025. The 14-day simple moving average of LTH spending rose sharply after Bitcoin’s price dipped toward $107,000 before rebounding to about $109,500. Breakdown by holding duration shows 1–2-year holders led with 34,500 BTC, while 6–12-month and 3–5-year segments each contributed around 16,000 BTC. Although overall LTH activity remains below late-2024 levels, this surge underscores profit-taking behavior that could signal a winding down of the current bull run.
Bearish
The unprecedented single-day sale of 97,000 BTC by long-term holders suggests significant profit-taking—and historically, large LTH outflows have preceded market corrections. The spike despite a price rebound to $109,500 indicates that seasoned investors may be positioning for a market top. In the short term, this could increase selling pressure and dampen bullish momentum. Over the longer term, sustained demand or fresh whale accumulation would be needed to offset the impact—but until then, elevated LTH sell-offs imply a more cautious market outlook.