Long-Term Bitcoin Holders Halt Selling After 260K BTC Dump

Bitcoin (BTC) is currently trading around $76,300, down 3% on the day. The selling by long-term holders that took place throughout August has largely come to a halt.

The transfer has left its imprint. Coins shifted from long-term wallets have been absorbed by new buyers, and a single price threshold now determines their profitability.

Long-Term Holders Offloaded More Than During Cycle Peak

According to Glassnode, the net position change for long-term holders turned deeply negative in mid-August, with the outflow reaching approximately 260,000 BTC — the largest since January 2025.

These holders had been accumulating Bitcoin from March to June.

At the late 2025 all-time high, long-term holders sold about 170,000 BTC. In August, near $80,000, they appear to have offloaded more Bitcoin than they did when the price was $122,000.

This highlights the substantial profit many long-term holders forfeited.

Yet, by the end of August, selling activity appears to have ceased abruptly.

Short-Term Holders Briefly Turned Profitable

Data from CryptoQuant reveals the buyers of those coins. For nine months, short-term holder (STH) supply in loss was predominant, reaching a peak above $600 billion.

August changed that trend. Profit among STH supply surged to about $260 billion, while losses dropped to near zero.

However, this turnaround is already weakening. Profit has declined to $168.2 billion, and losses have increased to $102.6 billion as Bitcoin's price has moved lower.

A STH Signal That's Historically Marked The End of Bear Markets

“The bear market trend only truly reverses once profits settle in for good STH and then push them to hold their positions and ride the upside.” – By @Darkfost_Coc

— CryptoQuant.com (@cryptoquant_com) September 15, 2026

Bitcoin Price Outlook Hinges on $76,500

Bitcoin broke through the descending trendline from its January peak but then struggled in early September, stalling at $82,613.

This price corresponds to the 0.618 Fibonacci retracement of the decline from $97,950 to $57,802. Bitcoin has since fallen below the 0.5 retracement level of $77,876.

Current support is at $76,500. Beneath that, the $73,000 to $75,000 range aligns with the 0.382 retracement.

Trading volume has decreased since late August, with no major sell-off day. The Relative Strength Index (RSI) has meanwhile fallen from roughly 78 to 53.

If Bitcoin holds above $76,500 and regains $81,000, the profit shift could continue. On the other hand, a drop to around $73,000 would leave most August purchasers at a loss, as previous Bitcoin bottom analysis cautioned.

Four-Year Cycle Suggests a Bottom is Near

Analyst Root maps Bitcoin using a spiral where the angle represents time and the radius represents price, with one full turn equaling four years.

Halving events, all-time highs, and cycle lows all occur in similar areas on the spiral. The current position corresponds to where the lows of 2015, 2018, and 2022 were seen.

This analysis depends on the persistence of the four-year cycle, a concept that competing cycle theories are increasingly challenging.

Spiral Chart. #Bitcoin

— Root 🥕 (@therationalroot) September 14, 2026

The cessation of supply addition by long-term holders is a factor, but the ultimate test lies at $76,500, where the market will deliver its verdict.