Holtby was replaced by Philipp Grubauer 7:14 into the period after Evander Kane scored the Sabres' third goal on their 16th shot.
Buffalo won 4-1, Holtby's first loss in regulation in 23 decisions (20-0-2). He fell one game short of tying the Capitals record set by Jose Theodore, who went 20-0-3 from Jan. 13 to April 9, 2010.
The NHL record is held by Gerry Cheevers of the Boston Bruins, who went 32 games without a loss in the 1971-72 season (24 wins, eight ties).
Holtby started his point streak on Nov. 12.
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