Bitcoin Long-Term Holders Reach Unprecedented Accumulation Levels
New data from CryptoQuant shows Bitcoin long-term holders (LTHs) accumulating a record 800,000 BTC in just 30 days. This marks only the seventh time in Bitcoin’s history that LTH supply has grown this dramatically, signaling strong conviction among experienced investors.
The Significance of Bitcoin Accumulation Patterns
LTHs – defined as wallets holding Bitcoin for at least six months – continue accumulating despite Bitcoin reaching new price highs. This behavior demonstrates confidence in Bitcoin’s long-term value proposition, regardless of short-term market fluctuations.
Market Impact of Holder Behavior
Historical data suggests such accumulation spikes often precede significant price movements. The current LTH cohort acquired coins between $95,000-$107,000, potentially establishing this as a new support range. Meanwhile, short-term holders maintain an aggregate cost basis just under $100,000, a crucial level for ongoing bull market conditions.
Key Market Observations
- Record 800,000 BTC added to LTH wallets in 30 days
- Only six similar accumulation events in Bitcoin’s history
- Current pattern mirrors previous pre-bull market signals
Market Stability Outlook
According to Glassnode, the $93,000-$98,000 range remains critical for maintaining bullish momentum. Prices falling below this zone could trigger more substantial corrections if holders begin selling at these levels.
