- Bitcoin’s correction of -12% stays within healthy bull market ranges, showing no sign of breaking historical cycle norms.
- Long-Term Holder selling patterns remain consistent, with activity rising and falling in line with Bitcoin’s major price swings.
- Market data shows corrections clear excess leverage, keep sentiment balanced, and allow Bitcoin to maintain its bullish structure.
Bitcoin’s recent pullback has drawn attention as traders question whether the correction signals deeper weakness. According to CryptoQuant analyst Darkfost_Coc on X, “Bitcoin hasn’t corrected more deeply than -28% during the current bull market… This current move is therefore not unusual and could continue without breaking the historical pattern.” The statement comes at a crucial time since Bitcoin has retraced about -12% from its last all-time high near $123,000.
Source: CryptoQuant
The correction aligns with historical patterns observed throughout this cycle. Since March 2024, the steepest drawdown reached -28%. On average, pullbacks have stayed between -20% and -25%.
Hence, the current retracement fits into the expected range of a normal bull market reset. Besides, these corrections often cool overheated sentiment and reduce leverage excesses across derivatives markets.
Long-Term Holder Activity Trends
Glassnode data confirms activity among Bitcoin’s long-term holders. The firm noted that Long-Term Holder (LTH) spending accelerated recently, though it remains within normal cycle ranges. The 14-day SMA shows increased selling, but volumes are still below the October–November 2024 peak levels.
Source: Glassnode
According to the chart, long-term and short-term holders of Bitcoin saw moderate activity as the price hovered around $60,000. But as Bitcoin got closer to $70,000 and Long-Term Holder volumes increased to 33,000 BTC, October showed more vigor.
Spending Volumes Mirror Price Cycles
November 2024 marked the highest spending volumes. Long-Term Holders sold nearly 45,000 BTC as Bitcoin advanced toward $100,000. Short-Term Holders contributed additional pressure, driving aggregate activity higher. December maintained high activity despite a price consolidation around $100,000.
In 2025, Long-Term Holder spending fell etween January and April, from 15,000 to 25,000 BTC. Bitcoin therefore dropped from $100,000 to $80,000. Furthermore, there was little selling from May to July 2025, with volumes somewhere between 10,000 and 15,000 BTC, while prices rose above $90,000.
Activity picked back up in August and September of 2025. With the rise in Bitcoin above $110,000, long-term holders sold almost 24,000 BTC. As more Short-Term Holders joined, the pressure increased.
Outlook Ahead
The data shows that corrections remain consistent with bull cycle norms. Moreover, holder activity continues to reflect natural profit-taking phases. Consequently, Bitcoin maintains its trajectory within a healthy cycle, supported by synchronized market behavior and strong macro drivers.
