Bitcoin Long-Term Holders Return to Heavy Accumulation as On-Chain Signals Hint at Renewed Bullish Momentum - Blockonomi
by Brenda Mary · BlockonomiTL;DR
- Bitcoin long-term holders accumulated a record 1.29 million BTC over 30 days.
- This is the strongest reading in more than six years.
- Glassnode data shows long-term holders have returned to significant realized profits, a pattern that has historically preceded strong rallies.
- Bitcoin has rebounded about 15% and is approaching the $68,000 Short-Term Holder Realized Price, a key level that could determine the next short-term trend.
Bitcoin’s longest-term investors are accumulating coins at the fastest pace in more than six years, while another closely watched on-chain metric shows these holders have returned to significant unrealized profits, a combination that has historically preceded major upward moves in the cryptocurrency’s price.
Data from CryptoQuant shows Bitcoin’s 30-day Long-Term Holder (LTH) Net Position Change surged to approximately 1.29 million BTC in late May, the strongest accumulation reading since the metric began tracking the cohort and higher than the previous peak recorded during the 2017 bull market.
Meanwhile, Glassnode data indicates long-term holders have moved back into healthy realized profits after Bitcoin’s recent recovery, echoing patterns seen before previous market expansions.
Together, the indicators suggest experienced investors continue to build positions despite recent price weakness, reinforcing the view that conviction among Bitcoin’s strongest holders remains intact.
Long-Term Investors Accumulate at Record Pace
According to the CryptoQuant data, the LTH Net Position Change measures how much Bitcoin held by investors who have kept their coins for extended periods has increased or declined over a rolling 30-day window.
The latest reading shows long-term holders accumulated roughly 1.29 million BTC over 30 days, surpassing every previous accumulation phase since at least 2021 and exceeding levels recorded during the 2017 cycle.
Notably, the record buying occurred while Bitcoin was trading well below its recent highs, suggesting experienced investors viewed the pullback as an opportunity to increase exposure rather than reduce risk.
Historically, aggressive accumulation by long-term holders has often coincided with periods when speculative demand weakened but institutional and high-conviction investors quietly increased their positions.
Profitability Among Long-Term Bitcoin Holders Strengthens
More on-chain data from Glassnode reinforces that trend.
The data tracks the realized profit and loss of long-term holders sending Bitcoin to exchanges using a 30-day moving average. The latest spike shows this group has returned to sizeable profits after Bitcoin’s recovery from recent lows.
Previous cycles have displayed similar patterns. Significant increases in realized profitability among long-term holders were observed before several major advances, including phases of the 2020-2021 bull market and earlier expansion periods.
While profitable holders can choose to take gains, the current environment differs because accumulation has simultaneously accelerated rather than weakened. That combination suggests many long-term investors remain confident in Bitcoin’s longer-term outlook despite short-term market volatility.
Although both indicators point toward improving market conditions, analysts caution that no single on-chain metric guarantees the start of a new bull market.
Long-term holder accumulation has historically been one of Bitcoin’s more reliable indicators of investor conviction because these wallets are generally less sensitive to short-term price swings than newer market participants.