In a surprising shift in market behavior, long-term BTC holders offloaded 400,000 Bitcoin in the past 30 days, coinciding with a price drop to $104,000. These investors, typically known for their patience and conviction, have begun exiting positions at scale—an action that has intensified volatility and shaken market confidence.
The selling pressure from these seasoned holders suggests a growing fear of further downside, or a calculated move to take profits near cycle highs. Either way, it marks a significant departure from their usual strategy of sitting through corrections.
Short-Term Holders Realize $3 Billion in Losses
While long-term holders took profits or minimized risk, short-term holders panicked, dumping $3 billion worth of BTC at a loss during the same period. These traders, often more reactive to price swings, likely bought in at higher levels and were forced to sell as prices declined—realizing steep losses in the process.
This behavior paints a classic picture of market stress, where experienced players exit strategically, and newer participants capitulate emotionally. The combination of both groups selling simultaneously has amplified Bitcoin’s downward momentum over the past month.
ALERT: Long-term holders sold 400K $BTC in 30 days as price fell to $104K. Short-term holders dumped $3B at a loss. pic.twitter.com/EsW6bXAiYa
— Cointelegraph (@Cointelegraph) November 4, 2025
Implications for Bitcoin's Future Trajectory
The large-scale exit by long-term holders could signal either a major top forming or a final flush before accumulation resumes. Historically, such selloffs have occurred near major market turning points—either at the end of a bull run or just before a stronger hands-only market rebuilds support.
With Bitcoin now hovering around the $104K level, all eyes are on whether buyer demand returns, or if further corrections are on the horizon. Analysts are closely monitoring exchange inflows, wallet activity, and stablecoin movement to gauge what comes next.