In a recent report by Glassnode, a prominent blockchain analytics firm, Bitcoin long-term holders (LTH) continue to exhibit strong holding behavior, maintaining historically high levels of value despite market turbulence. The firm’s weekly on-chain analysis reveals a notable shift from selling pressure to a renewed focus on holding (HODL) and accumulation among Bitcoin investors.
Over the past three months, more than 374,000 BTC have transitioned to long-term holding status. Although the spot market has experienced significant seller pressure recently, this trend appears to be stabilizing. The recent price fluctuations in the Bitcoin market have slowed the pressure on LTH allocation, leading to a stabilization and subsequent growth in the proportion of holdings by this group.
Glassnode’s data indicates that the holdings of long-term Bitcoin investors remain at historically high values compared to previous all-time highs (ATH). This resilience suggests that should Bitcoin prices rise in the future, LTH might face increased withdrawal pressure. Despite recent sideways trading and price declines, long-term holders are demonstrating a willingness to accumulate at lower prices, showcasing their commitment to the cryptocurrency.
