Bitcoin faces a new test: has long-term selling pressure begun to ease?
In September 2026, the Bitcoin market is witnessing a remarkable shift in the behavior of long-term coin holders. According to data published by Binance Square from Glassnode, the net distribution of Bitcoin from the long-term holders category fell from about 105,900 BTC on August 30 to 21,700 BTC on September 20, a decline of roughly 80%.
But the most important question isn’t: Will selling stop? Rather: What does its slowdown mean in a sensitive price zone?
A slowdown in selling doesn’t mean volatility is over
A decline in distribution from long-term holders may indicate a decrease in sell-side pressure in the market, but it doesn’t automatically mean that the bullish trend is guaranteed.
The digital currency market is influenced at the same time by liquidity, interest rates, ETF fund flows, and leverage in the derivatives market. Therefore, reading a single indicator in isolation from the rest of the data may lead to an incomplete picture.
The $83,000–$86,000 zone is under the microscope
The data reported by Binance Square from Glassnode suggests a notable concentration in the supply of long-term holders near the $83,000–$86,000 range.
This area could be important because some investors who bought near it may view a return of the price to this level as an opportunity to exit at breakeven, while others may prefer to keep holding.
That’s why supply and demand behavior within this zone may be more important than just day-to-day price movement.
ETF flows add a new factor
On the other hand, data published on Binance Square showed that U.S. spot Bitcoin funds recorded net inflows of around $999 million on September 21, with BlackRock’s IBIT leading daily inflows.
But strong inflows in a single session are not enough by themselves to prove a long-term direction. The most important question is: Will these inflows continue in the coming sessions?
Four indicators worth following
If an investor wants a more balanced picture of the market, it’s helpful to monitor:
Continued decline in Bitcoin distribution from long-term holders.
Sustained inflows into spot Bitcoin ETF funds.
Price action and trading volume around the $83,000–$86,000 range.
Leverage levels and funding rates in the perpetual futures market.
The convergence of these indicators in one direction will be more meaningful than relying on a single indicator.
Conclusion
The current data paints a more complex picture than simply “up or down.”
Meanwhile, the decline in distribution from long-term holders represents an important change in supply behavior, while the return of ETF flows gives the market an additional element worth monitoring.
But Bitcoin remains sensitive to macroeconomic factors, liquidity, and derivatives. Therefore, reading a set of indicators together is still more useful than relying on a headline or short-term price movement.
Note: This article is for analytical and educational purposes and is not an investment recommendation. The digital currency market is highly volatile, and risk management is a key element in any investment decision.
#Bitcoin #BTC #BinanceSquare #Crypto #BitcoinETF #CryptoNews #Glassnode