Bitcoin's price remains under pressure as long-term holders continue to sell, according to Glassnode's analysis. Since mid-July, the average daily selling volume from these holders has surged from $1 billion to between $20 billion and $30 billion by early October. This sustained selling has kept Bitcoin's price below $126,000. Investors who have held Bitcoin for 6–12 months are responsible for over 50% of the recent selling pressure, particularly as Bitcoin neared its historical high. Their average daily selling volume reached $648 million, significantly above the baseline earlier in 2025. These investors, who acquired Bitcoin at prices between $70,000 and $96,000, face potential losses if the price drops below the $93,000–$96,000 range.