Bitcoin LTHs Dump 97K BTC While Institutions Buy the Dip
Long-term holders sold approximately 97,000 BTC in a single day when Bitcoin dipped below the $110,000 support level. Glassnode reports this is the largest daily move by long-term holders (LTHs) this year, driven mainly by coins aged one to five years. Despite the sell-off, on-chain metrics indicate the market structure remains intact and within normal cycle ranges. Institutional players are stepping in to absorb supply: Sweden’s Goobit Group added 1.02 BTC, and Satsuma Technology increased its holdings by 22.65 BTC, now totaling 1,148.65 BTC. Bitcoin trades near $109,700, down 2% over the past week, while Delta Cap and the Coinbase Premium Gap suggest solid valuation floors and rising U.S. institutional demand. Historical patterns show that such structured corrections often mark accumulation phases. Traders should watch on-chain metrics and institutional inflows for signals of a potential bullish recovery.
Neutral
The large sell-off by long-term holders could spark short-term volatility and downward pressure on Bitcoin. However, institutional accumulation by companies like Goobit and Satsuma offsets much of the supply shock. On-chain metrics such as Delta Cap and the Coinbase Premium Gap point to firm valuation floors and rising U.S. institutional demand. Similar patterns in late 2024 saw heavy LTH selling followed by steady institutional buying, resulting in renewed bullish trends. In the short term, traders may see price oscillations around key supports. In the long term, sustained capital inflows and healthy market structure suggest limited downside and potential for recovery. Overall, the balance of selling and buying pressures leads to a neutral outlook.