Blockchain analytics indicate a significant portion of Bitcoin's circulating supply is now held by long-term investors, signaling strong market conviction. A recent announcement by Cointelegraph highlighted this trend, stating that the long-term Bitcoin supply has reached 15.63 million BTC. This figure represents 78.5% of the total circulating supply, a development Cointelegraph described as "bullish."
Long-term holders are typically defined as entities that have retained their Bitcoin for at least 155 days, distinguishing them from short-term traders. This metric is crucial for gauging underlying market sentiment, as a high long-term holder supply suggests reduced selling pressure and a steadfast belief in Bitcoin's enduring value. The current accumulation trend reflects a strategic holding pattern by a substantial segment of the investor base.
The reported 15.63 million BTC held by long-term investors positions the supply near its all-time high, which approached 16 million BTC or 80% of the circulating supply in late 2024. Recent data from CryptoQuant further highlights this trend, showing an increase of 800,000 BTC in long-term holder supply over the past month alone. This accumulation, with coins entering the long-term category at purchase prices between $95,000 and $107,000, reinforces these levels as potential support zones.
This sustained holding behavior indicates that a growing number of investors, both retail and institutional, are adopting long-term strategies for Bitcoin. Unlike past cycles where long-term holders might reduce positions during price peaks, the current trend suggests increased confidence in Bitcoin's future value proposition. This reluctance to sell, even amidst price surges and Bitcoin trading above $100,000, points to Bitcoin's evolving perception as a robust store of value rather than purely a speculative asset.
The substantial and increasing long-term holder supply contributes significantly to market stability and suggests a mature investor base. This strong conviction among holders implies a reduced likelihood of widespread selling, potentially paving the way for continued growth. The data collectively paints a picture of a Bitcoin market underpinned by strong fundamentals and a committed long-term vision.