The supply of long-term Bitcoin holders is approaching a historic high, breaking a 2.5-year downward trend

Long-term Bitcoin holders (LTH, referring to investors holding for at least 155 days) currently hold 16.3 million BTC, close to the all-time high of 16.4 million BTC set in January 2024 when the US spot Bitcoin ETF was launched. Since the 14.12 million BTC reached in October last year when Bitcoin hit a record high of $126,000, this group’s holdings have increased by over 2 million BTC, with a net addition of about 200k BTC just in the past month.
This growth has broken the roughly 2.5-year downward trend in supply since January 2024. During this period of relatively weak Bitcoin prices, long-term holders have continued to accumulate positions, consistent with their historical pattern of buying during bear markets or price weakness and distributing during bull markets.
Long-term holders are generally seen as a more rational and steadfast segment of the market, with their supply significantly increasing during downturns, reflecting strategic accumulation during price corrections rather than panic selling. This trend may provide some support for future market recovery, but Bitcoin’s overall price remains influenced by macroeconomic factors, regulatory policies, geopolitical issues, and market sentiment, with short-term volatility still a risk.
The above content is based on publicly available on-chain data and is for reference only, not constituting any investment advice or financial opinion.
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