Bitcoin's price stability above $102,000 is under threat as long-term holders increase sell-offs, according to CryptoQuant data. Since early October, the 30-day sum of long-term holder spending has risen, but the market's ability to absorb this selling pressure has diminished. This contrasts with previous bull markets where increased demand countered such sell-offs. The data also reveals a contraction in demand since October 2025, aligning with Bitcoin's recent price consolidation.