Key takeaways:
Long-term Bitcoin holders sold 241,000 BTC over the past 30 days.
BTC price bear flag targets $95,500.
Bitcoin (BTC) long-term holders have sold more than 241,000 BTC over the past month. Continued selling could send the price toward $95,000 or lower, according to analysts.
Bitcoin long-term holders sell $26 billion worth of BTC
Bitcoin long-term holders (LTHs) — entities holding coins for at least six months — have started to offload coins as BTC price hit new all-time highs above $124,500 in August.
Related: Bitcoin taps $111.3K as forecast says 10% dip ‘worst case scenario’
Analyzing the LTH supply change, CryptoQuant analyst Maartunn said that on a rolling 30-day basis, the supply had decreased by a net 241,000 BTC, worth around $26.8 billion at current market prices as of Monday. He added:
“That’s one of the largest drawdowns since early 2025.”
This may continue to pressure Bitcoin’s price in the coming weeks, particularly when coupled with whales, who have offloaded more than 115,000 BTC over the same period.
Meanwhile, despite the total holdings of Bitcoin Treasury Companies reaching a record high of 1 million BTC, growth has slowed sharply over the past month.
Strategy’s monthly buys collapsed from over 134,000 BTC in Nov 2024 to just 3,700 BTC in Aug 2025, according to data from CryptoQuant.
Other Treasury Companies purchased 14,800 BTC in August, compared to their record-high purchase of 66,000 Bitcoin June 2025.
“August purchases also fell below the 2025 monthly averages, 26K BTC for Strategy and 24K BTC for other firms,” the onchain analytics firm said in its latest Weekly Crypto Report, adding:
“Smaller, cautious transactions show institutional demand is weakening.”
Capriole Investments founder Charles Edwards also points out that the rate of companies purchasing Bitcoin per day continues to fall, a sign that institutions could be “exhausted.”
Treasury Company demand continues to collapse. The companies are still staunchly buying, but the rate of companies purchasing per day continues to fall. Are institutions exhausted, or is it just a dip? pic.twitter.com/3ItN1tVIaU
— Charles Edwards (@caprioleio) September 7, 2025
The reduced buying from treasury companies further weakens demand, exacerbating the downward trend.
Bitcoin price bear flag targets $95,000
Bitcoin dropped 14% from its $124,500 record high reached on Aug. 16 to a seven-week low of $107,500 on Aug. 30, data from Cointelegraph Markets Pro and TradingView shows.
The price has since recovered to the current levels around $111,500.
This price action has printed a bear flag on the daily chart, as shown below. Bitcoin dropped below the flag on Saturday and is now retesting the lower boundary of the flag at $112,000 (100-day SMA).
Failure to flip $112,000 into support would trigger the continuation of the downtrend toward the measured target of the bear flat at $95,500, or a 14.5% drop from the current price.
However, the macro picture looks much healthier, since the 13% pullback from all-time is much shallower than previous pullbacks, according to X user Coin Signals.
As Cointelegraph reported, the latest predictions now include Bitcoin possibly dropping below $90,000, while still on track for new all-time highs.
Note that a 30% drawdown from the current all-time highs places the BTC price bottom at $87,000, which aligns with the realized price of 6-12 months holders.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
