Bitcoin’s long-term holder (LTH) supply has witnessed a significant 10% surge, jumping from 14.3 million to 15.8 million BTC, signaling renewed confidence as the flagship cryptocurrency tests the critical $105,000 resistance level. This accumulation pattern emerges amid growing evidence that Bitcoin could reach $120,000 in the near term.
Key Findings from Long-Term Holder Analysis
On-chain expert Darkfost’s analysis reveals two crucial developments in Bitcoin’s holder behavior:
- Established long-term holders are maintaining their positions rather than distributing
- Recent buyers from 6+ months ago have transitioned to holding status
This accumulation pattern follows a broader trend of institutional Bitcoin adoption, suggesting growing confidence in Bitcoin’s long-term value proposition.
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Technical Analysis and Market Implications
The current market metrics show several bullish indicators:
- LTH supply ratio has reached 73% of total circulating supply
- UTXO spending rate has decreased significantly since December 2024
- Trading volume has surged 79% in the last 24 hours
Expert Outlook and Price Projections
Despite a recent 3% weekly decline to $102,603, the increasing LTH supply suggests strong underlying support. Technical analysis indicates potential for further upside, with key resistance levels at $105,000 and $107,000.
FAQ Section
What defines a Bitcoin long-term holder?
A long-term holder is typically defined as an investor who has held Bitcoin for more than 6 months without moving their coins.
Why is LTH supply significant?
LTH supply indicates market sentiment and conviction, with higher levels typically correlating with reduced selling pressure and potential price appreciation.
What’s the current market outlook based on LTH data?
The increasing LTH supply suggests strong holder conviction and could support Bitcoin’s push toward new all-time highs above $120,000.