Key Notes

• Long-term holders sold ~97k BTC on Friday, the largest daily move this year.
• Glassnode believes that this level of selling is still within the range of this cycle.
• Companies like Goobit and Satsuma continue to accumulate BTC.

Bitcoin’s BTC $108 995 24h volatility: 0.6% Market cap: $2.17 T Vol. 24h: $36.72 B long-term holders (LTHs) accelerated their selling last week when BTC dropped below the key $110,000 support.

On August 29, roughly 97,000 BTC were moved according to Glassnode, the largest one-day volume so far this year.

The sell-off was driven mainly by coins aged between one and five years, accounting for nearly 70% of the total volume.

Despite recent price volatility, key on-chain metrics suggest Bitcoin’s market structure remains strong. Glassnode points out that while this level of LTH selling is notable, it is still within the range of this market cycle and remains below the extreme peaks seen in late 2024.

#Bitcoin Long-Term Holder (LTH) spending has accelerated in recent weeks, with the 14-day SMA ticking higher. Still, activity remains within the norm for this cycle, notably below the spikes observed in Oct–Nov 2024. pic.twitter.com/9igEeuV8bf

— glassnode (@glassnode) September 1, 2025

Institutions Step In as Buyers

Amid the heavy selling, institutional players continue to add Bitcoin to their treasuries.

Sweden’s Goobit Group AB finalized its planned Bitcoin purchases from a recent share issue, adding 1.0197 BTC. The move has brought the company’s total holdings to 11.6491 BTC, worth $1.25 million.

In a separate filing, Satsuma Technology reported that it had increased its treasury by 22.65 BTC since its last update.

The company currently holds 1,148.65 BTC, highlighting the growing role of corporations in absorbing supply during market drawdowns.

🚨JUST IN: 🇬🇧 Satsuma Technology added 22.65 BTC since its last update, bringing total holdings to 1,148.65 BTC as of Aug 8. pic.twitter.com/tTmRLXH4xl

— NLNico (@btcNLNico) September 1, 2025

Market Resilient Despite Sell-off

BTC is currently trading around $109,700, down 2% over the past week. Despite this short-term price downturn, Delta Cap, which historically acted as a long-term valuation floor, remains well below BTC price.

This suggests stronger foundations compared to past downturns, backed by steady capital inflows.

Bitcoin’s price compared with Delta Cap. | Source: CryptoQuant

Another indicator, the Coinbase Premium Gap shows that U.S. institutions are paying more for Bitcoin compared to global markets.

Historically, such levels have marked the early stages of strong bullish moves, as institutional demand drives prices higher.

Bitcoin Coinbase Premium Gap. | Source: CryptoQuant

According to XWIN Research Japan, the ongoing market corrections appear less like weakness and more like opportunities to accumulate as BTC could be the next crypto to explode in 2025.

Several other on-chain indicators suggest that Bitcoin’s $124,500 peak is unlikely to be the top. For instance, all 30 CoinGlass bull market peak signals still show no signs of overheating.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.

Parth Dubey on LinkedIn