Are Bitcoin HODLer Selloffs Coming to an End? Long-Term Holder Outflows Decline

Recent on-chain data indicates a decline in outflows from Bitcoin long-term holders (LTHs). This trend could signify a reduction in selling pressure. Understanding long-term holders’ behavior can provide insights into market dynamics and potential future price movements for Bitcoin.

Key Takeaways

Long-term holders (LTHs) of Bitcoin have seen a decline in net outflows recently.
Historically, LTHs are less likely to sell their coins, but they have engaged in profit-taking during previous market rallies.
The intensity of selling activity among LTHs appears to be decreasing, which might suggest stabilization in the market.
Bitcoin’s current price is around $91,800, reflecting a decline of nearly 3% over the past week.

Bitcoin

Bitcoin Long-Term Holder Netflow Less Negative

On-chain analytics company Glassnode recently shared observations regarding the netflow trends of Bitcoin long-term holders (LTHs) in a post on X. LTHs are defined as Bitcoin investors who have held their assets for over 155 days.

Research has shown that the longer investors retain their holdings, the less inclined they are to sell. Therefore, LTHs are typically seen as steadfast participants in the market. However, they have exhibited several phases of distributing their holdings in recent years. The chart below illustrates the monthly netflow of Bitcoin LTHs.

Bitcoin LTH Netflow

The chart indicates that Bitcoin LTHs experienced periods of net outflows during the bull markets of 2024, showing that these steadfast holders engaged in profit-taking. Another brief distribution phase occurred in mid-2025, followed by net inflows, but this was soon succeeded by another wave of selling in late 2025.

Currently, this distribution phase is still underway, as monthly netflows for LTHs remain negative. However, this recent selling trend differs from past instances, as it is occurring amidst bearish markets rather than during price surges.

Despite ongoing distribution, the severity of outflows has lessened recently, as the netflow among LTHs has become less negative. As explained by Glassnode:

"Net outflows have rolled over from extreme levels, indicating that the market is progressively absorbing long-held supply and that a large portion of overhead supply may now be largely worked through."

The reduction in net outflows coincides with a decrease in the Realized Profit among LTHs, as highlighted by Glassnode in another post on X.

Bitcoin LTH Realized Profit

The Realized Profit metric measures the total profit that LTHs are realizing through their transactions. The chart shows that although profit-taking was high previously, it has recently fallen to a lower level.

Glassnode noted that:

"Such conditions are often associated with heightened uncertainty and tend to emerge during mid-bull market pauses or the early stages of deeper bear markets."

Current BTC Price

At the moment, Bitcoin is trading around $91,800, reflecting a nearly 3% decline over the past week.

Bitcoin Price Chart

The trend of Bitcoin's price over the last five days suggests some volatility, but understanding the actions of long-term holders can offer valuable insights into potential market movements ahead.