Bitcoin Long-Term Holders At New ATH, Now Hold 75% Of Supply

On-chain data shows the Bitcoin long-term holders have continued to HODL strong recently, as their supply has reached a new all-time high.

Bitcoin Long-Term Holders Now Control 75% Of The Circulating Supply

According to data from the on-chain analytics firm Glassnode, the BTC long-term holders now carry 14.52 million BTC. The “long-term holders” (LTHs) here refer to investors holding onto their coins since more than 155 days ago.

The LTHs comprise one of the two main segments of the Bitcoin market, the other half being the “short-term holders” (STHs), which naturally includes the holders who bought less than 155 days ago.

Statistically, the longer an investor holds onto their coins, the less likely they become to sell at any point. Thus, the LTHs are generally the more resolute investors than the STHs.

An indicator that may be used to track these diamond hands is the “LTH supply,” which measures the total amount of Bitcoin these investors are currently carrying in their wallets. Here is a chart that shows the trend in the Bitcoin LTH supply over the past few years:

As displayed in the above graph, the Bitcoin long-term holder supply has been in an overall uptrend for a while now. The last time the indicator observed a significant decline was during the bull run in the first half of 2021.

As mentioned before, the LTHs generally have a firm resolve, meaning that they don’t quickly sell no matter what’s going on in the broader market, whether it be FUD or the allure of profit-taking.

The bull rally in the first half of 2021 was an enticing enough exit opportunity that even these investors had given in and sold a large amount of their supply.

Since these investors have returned to accumulation, however, there haven’t been any significant periods of downtrends in their supply. The chart shows that there were slight, temporary declines during significant events, like the FTX collapse in November 2022.

Even after the rally started this year, the Bitcoin LTHs have only continued to sit tighter, as their supply has constantly set new all-time highs. This would suggest that these holders don’t think the current prices are near enough to take profits here.

After the latest upwards move in this metric, these diamond hands are now holding a new all-time high supply of 14.52 million BTC, equivalent to about 75% of the total circulating supply of the cryptocurrency.

These investors continuing to accumulate is a positive sign for the asset, although any benefits from this HODLing would only appear in the long term.

BTC Price

At the time of writing, Bitcoin is trading around $29,000, down 3% in the last week.