Bitcoin long-term holders have offloaded 241,000 BTC, valued at approximately $26.8 billion, over the past month as the cryptocurrency's price hit new highs above $124,500 in August. This significant sell-off, one of the largest since early 2025, has contributed to a downward pressure on Bitcoin's price, which recently dropped to $107,500 before recovering to around $111,500. The selling trend among long-term holders is compounded by a decrease in institutional demand, with Bitcoin Treasury Companies' monthly purchases plummeting from 134,000 BTC in November 2024 to just 3,700 BTC in August 2025. Analysts suggest that continued selling could push Bitcoin's price towards $95,000 or lower, as the market grapples with reduced buying from both individual and institutional investors.