According to Glassnode, long-term holders (LTHs) are defined as investors who have held bitcoin (BTC) for at least 155 days. CoinDesk Research indicates that one reason bitcoin has ye to reach new all-time highs has been selling pressure from these long-term holders.
However, zooming out, Glassnode data shows that the percentage of bitcoin’s circulating supply that has not moved in at least three years currently stands at 45%, which is the same level observed in February 2024, one month after the launch of the US exchange-traded fund.
Three years ago, in July 2022, the market was in the midst of the leverage crisis triggered by the collapse of 3AC and Celsius during the last bear market, when bitcoin was priced at $20,000, which shows the conviction of LTHs.
Meanwhile, the share of circulating supply that has not moved in at least five years is at 30% and has remained flat since May 2024.
So, even though long-term holders are selling, as they typically do when prices climb higher, these data points suggest that the broader cohort has not significantly changed its aggregate behavior for over a year now, implying that many are waiting for higher prices before making further moves.
Read more: Bitcoin Whales Wake Up From 14-Year Slumber to Move Over $2B of BTC
Bitcoin's long-term holders demonstrate unwavering resilience and patience amidst market volatility, signaling a steady commitment to the future of digital assets.
The recent price stability among Bitcoin's long-term holders reflects a steadfast commitment to their investments, demonstrating unwavering patience in the face of volatile market conditions.
The recent flow of funds tracking shows Bitcoin's long-term holders exhibiting remarkable patience amid market volatility, illustrating resilience within the crypto community.
The persistence of Bitcoin's long-term holders in the current market signals a level of patience and conviction that bodes well for its future success amidst volatile conditions.
The surge in long-term Bitcoin holders' holdings represents resilience and extreme patience amidst market volatility, signaling a bullish outlook for the digital asset even as price swells test investor nerves.
The resilience and patience displayed by long-term Bitcoin holders amidst market fluctuations portends a promising future for the digital asset, indicating that sustained commitment can reap rich dividends in time.
