Long-term holders sold about 183,000 Bitcoin across the last 30 days, including roughly 8,000 BTC spent in a single session, according to on-chain data tracking long-tenured supply and daily spent output.

Per CryptoQuant’s 30-day Long-Term Holder Net Position Change, the cohort’s monthly balance decline aligns with a brief wave of distribution, and Glassnode’s spent-volume readings mark the largest one-day LTH move since the start of the year in early September.

At the same time, the stock of coins with a low historical tendency to move, commonly framed as an illiquid supply, reached a record of nearly 14.3 million BTC in late August. Glassnode’s liquidity taxonomy places those coins with entities that have rarely been spent in the past, a bucket that has expanded even as prices cooled from mid-August levels.

In other words, distribution from older wallets coincided with deeper storage by holders who seldom transact, a pairing that matters for how much new supply is actually available to trade.

Flows in spot Bitcoin ETFs add another layer. U.S. products posted a sharp daily intake on Sept. 10, with net subscriptions around $757 million, according to SoSoValue’s consolidated dashboard.

Farside Investors’ running table shows the same pattern when aggregating daily prints across the complex. An upturn in primary-market demand at the same time older coins reentered circulation frames a simple absorption test; buyers either take the other side or they do not.

Methodology matters for interpreting the numbers

LTH Net Position Change calculates the 30-day change in the supply held by long-term holders, a negative reading over the past month that sums to about 183,000 BTC.