Bitcoin’s Bear Market Continues with Long-Term Holders Dominating Supply
- Bitcoin is currently trading at approximately $66,060.58, down over 3% in the last 24 hours.
- The price is roughly 45% below its all-time high reached in October.
- The bear market has persisted for almost six months.
- Long-term holders, defined as those holding for six months or more, currently account for about 80% of Bitcoin’s supply.
- Historically, bear market bottoms occur when long-term holders control at least 85% of the supply.
Investors are facing both price pain and time pain as Bitcoin remains range-bound and volatile. The dominance of long-term holders suggests that the market may be approaching a bottoming phase, although further consolidation appears likely.
Currently, with long-term holders making up about Source80% of Bitcoin’s supply, the market may still need several months before reaching a true floor.
