Bitcoin Long-Term Holders Shift from Selling to Accumulating
- Long-term holders of Bitcoin have stopped net selling, potentially reducing supply pressure.
- The monthly long-term holder (LTH) supply change turned positive, with around 10,700 BTC transitioning into long-term holdings.
- This shift marks the end of a distribution phase that had persisted since July, according to on-chain analyst Darkfost.
- CryptoQuant CEO Ki Young Ju confirmed the trend, noting that Bitcoin LTHs have ceased selling activities.
- Matthew Sigel from VanEck highlighted this as the largest sell pressure event from LTHs since the year prior to this report’s publication.
The recent data indicates a significant shift in Bitcoin market dynamics as long-term holders transition from being net sellers to net accumulators. This change could alleviate a major source of structural supply pressure on Bitcoin prices moving forward.
With approximately 10,700 BTC now classified as long-term holdings, analysts suggest this could signal a consolidation phase or potential bullish recovery in the market. (Source)
