long term holders just dumped 241,000 btc worth $26.8b – are we heading under $100k?

cryptoquant data shows that long term holders (6+ months) have sold 241,000 btc in the last 30 days ..that’s around $26.8 billion hitting the market.

analyst maartunn called it one of the largest selloffs since early 2025. no surprise we’re struggling to stay above $110k after topping at $124,500 last month.

institutions are slowing down too. treasury buyers grabbed 134,000 btc in november 2024 but only 3,700 btc this august. even microstrategy has been quieter.

charts are hinting at a possible bear flag with $112k support. if that breaks, the target could be $95,500. but worth noting this pullback is still shallower than previous cycles. the realized price for mid term holders sits around $87k, which could be a strong floor.

is this healthy profit taking and just part of bitcoin’s cycle… or is weak institutional demand a red flag that we’re in for deeper pain?