According to the latest blockchain data, the amount of Bitcoin (BTC) held by long-term investors is rapidly approaching a historical milestone, signaling a period of significant accumulation. Data shared by CryptoQuant analyst Axel Adler Jr. reveals that the supply held by long-term holders (LTH) has reached 16.35 million BTC, sitting just 58,000 BTC below the all-time high recorded on July 30, 2024. This trend suggests a high level of conviction among seasoned market participants despite recent price volatility.
Low Selling Pressure and Consistent Accumulation
The appetite for the primary cryptocurrency remains robust, with the LTH supply increasing by 1.38 million BTC over the last 90 days. This growth highlights a strategic move by investors to lock away assets rather than liquidate them on exchanges. Analysis of recent market behavior shows:
- The LTH supply has only decreased on two out of the last 15 days.
- Selling frequency is currently hovering near its lowest historical levels.
- The current market environment reflects a lack of significant selling pressure from veteran wallet addresses.
Long-term holders are typically defined as addresses that have held their assets for more than 155 days, a threshold after which the statistical likelihood of selling decreases significantly.
Price Dynamics and Risk Zones
With Bitcoin trading around the $59,200 mark, the market is navigating specific risk corridors defined by the LTH cost basis. Currently, the average purchase price for these holders stands at $45,400, representing a 1.30x multiplier. The market has remained within a "low-risk" zone—the area between the cost basis and the 1.5x multiplier ($68,100)—for 78 consecutive days.
A breakthrough of $68,100 would enter the normal risk zone, and a drop below $45,400 would put LTHs as a whole into a loss.
This price structure indicates that while the majority of long-term investors are in profit, they are refraining from exiting their positions, waiting instead for higher valuations or a transition into higher risk tiers.
The current concentration of Bitcoin in the hands of long-term holders suggests a tightening of the available liquid supply. As Bitcoin nears its historical peak supply for LTHs, the market's resilience will likely depend on whether this accumulation phase transitions into a new bullish cycle or continues to consolidate within the established low-risk price boundaries.
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For educational purposes only. Nothing here constitutes financial or investment advice. Crypto markets are highly volatile — always DYOR before making any decisions.
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