Long-term holders (LTHs) of bitcoin are showing a strong presence in the market, with their holdings reaching a record 14.46 million BTC according to data from Glassnode. This trend indicates that many investors, who have held their bitcoin for at least 155 days, are optimistic about future price increases. Historically, this group is recognized as 'smart money,' often buying during dips and selling at market peaks.
In just a few months, from March to June, LTH holdings rose by around 500,000 BTC, while short-term holders (STHs) sold about 350,000 BTC. Notably, many of the current LTHs entered the market during the market excitement in January, following a significant surge that saw bitcoin prices hit a record of $109,000. Despite experiencing a 30% correction since then, their current accumulation suggests a resilient outlook on bitcoin's price trajectory.
Currently, LTHs own approximately 73% of bitcoin's circulating supply, which reflects their influential role in the market dynamics. This concentration of holdings among long-term investors can often lead to upward price momentum, as high confidence levels among such holders frequently precede price rallies.
In just a few months, from March to June, LTH holdings rose by around 500,000 BTC, while short-term holders (STHs) sold about 350,000 BTC. Notably, many of the current LTHs entered the market during the market excitement in January, following a significant surge that saw bitcoin prices hit a record of $109,000. Despite experiencing a 30% correction since then, their current accumulation suggests a resilient outlook on bitcoin's price trajectory.
Currently, LTHs own approximately 73% of bitcoin's circulating supply, which reflects their influential role in the market dynamics. This concentration of holdings among long-term investors can often lead to upward price momentum, as high confidence levels among such holders frequently precede price rallies.
