Key Insights
- Bitcoin price is falling as long-term holders continue steady selling.
- Bitcoin ETF outflows and liquidations are adding more supply to the market.
- Weak spot demand is preventing the Bitcoin price from stabilizing.
The recent Bitcoin price correction isn’t actually a sudden move. The downtrend has been active for months now.
After peaking near $126,000 in late 2025, it has fallen more than 40% and recently dropped below $70,000. The recent crash-like dip was not led by one solitary event, like the liquidations, which usually get the blame.
It has been building over time through repeated selling, weak demand, and broken support levels. Several signals show why pressure continues.
Bitcoin Price Slips Amid Long-Term Holders Woes
One of the biggest changes this cycle is how long-term holders are behaving. These are wallets that held Bitcoin for more than six months.
In past cycles, this group usually held through Bitcoin (BTC) price drops. This time, many have been reducing exposure.
Data sets from Glassnode reveal that these conviction-driven holders even offloaded over 140,000 BTC in a 30-day period, during a time when the prices held steady.
On-chain data shows steady selling from older coins near $84,000, $76,000, and $70,000. Instead of waiting for higher prices, many chose to lock in profits.
When this group sells, it removes strong support. It also increases supply during every recovery attempt.
That has kept pressure on the Bitcoin price for a long time.
Bitcoin (BTC) Price Key Support Zones Failed Repeatedly
Bitcoin has broken several important price areas since late 2025. The BTC price support near $84,000 failed first.
Then $76,000 and $70,000, respectively. Each break followed the same pattern.
For context, the selling pressure surged while the buyers stepped back. The BTC price slipped quickly.
These levels were important because many investors bought there. Once they broke, confidence weakened. Many holders became sellers instead of buyers.
After that, these zones turned into resistance. When the price turned, selling appeared again. This has made it hard for the Bitcoin price to rebuild stable ground.
BTC Spot Selling Led the Decline
The current Bitcoin price drop did not begin in futures markets. It began in spot markets. Large wallets and older holders sent coins to exchanges and sold them. This pushed the BTC price lower without leverage.
After that, liquidations followed. As the price moved down, leveraged traders were forced out. Long positions were closed automatically. That added more selling.
This created repeated waves of downside pressure for BTC price. Even small drops became large moves because liquidity was thin.
Bitcoin ETF Outflows Added More Supply
Bitcoin ETFs were a major support in earlier cycles. That support has weakened. In 2026, many ETFs have seen regular outflows. When investors withdraw money, funds must sell Bitcoin.
This adds real supply to the market.
Another issue is cost basis. Many ETF buyers entered near $85,000 to $90,000. At current prices, they are sitting on losses.
When the BTC price rises slightly, some use it to exit. This limits upside. ETFs are no longer absorbing supply. They are contributing to it.
New Buying Demand Remains Weak
The final problem for BTC price is demand. Whale accumulation has been limited. Large funds are cautious. Retail activity has slowed.
Trading volume shows fewer buyers stepping in during declines. Many investors prefer to wait. Without strong demand, selling dominates.
This is why the price keeps going lower instead of stabilizing. Taken together, these signals explain the current Bitcoin price structure. Older holders are selling.
Support zones are gone. Liquidations are frequent. ETF outflows continue. And finally, buyers remain cautious.
As long as this setup stays in place, pressure is likely to remain. For Bitcoin price to stabilize, selling must slow, and steady spot demand must return. Until that happens, the market remains defensive.