Bitcoin’s Long-Term Holders Shift Toward Accumulation, Suggesting Potential for Price Growth


  • Long-term holder sales have dropped below $1 billion daily, a notable decrease from previous months.

  • Bitcoin is now less than $3,000 away from its all-time high of $123,091.

  • On-chain metrics reveal a shift back to holding, reducing exposure to exchanges.

Bitcoin long-term holders are reducing sales, indicating a shift towards accumulation as prices approach all-time highs. Read more for insights.

Metric Value Comparison
Daily Sales Below $1 billion Previously above $1 billion

What is Driving Bitcoin Long-Term Holders to Accumulate?

The recent trend among Bitcoin long-term holders indicates a shift towards accumulation. Long-term holders have reduced their daily sales significantly, suggesting a bullish sentiment as Bitcoin approaches its all-time high.

How Have Long-Term Holder Sales Changed?

According to Glassnode, Bitcoin’s long-term holder sales have decreased from an average of $1 billion daily in July to hundreds of millions since August. This shift correlates with a surge in trading volume, indicating renewed buying interest.

Bitcoin realized profit chart.

Source: Glassnode

This trend suggests that long-term holders are becoming more bullish, potentially supporting rising demand for Bitcoin.

Why Are Investors Preferring to Hold Bitcoin Again?

With selling pressure easing, many investors who previously sold are now opting for long-term holding. The Binary CDD (Coin Days Destroyed) metric indicates a drop to zero, reflecting stronger holding behavior among investors.

Bitcoin Binary CDD chart.

Source: CryptoQuant

Additionally, the Fund Flow Ratio data shows reduced Bitcoin interaction with exchanges, signaling a preference for holding over immediate sell-offs.

Are Investors Resuming Bitcoin Buying?

The spot market appears bullish, with investors recently purchasing $51 million worth of Bitcoin. This marks a significant shift following a $242 million sell-off earlier in August.

Bitcoin spot exchange netflow chart.

Source: CoinGlass

If this accumulation trend continues, Bitcoin may break its all-time high and enter a new price discovery phase.

Key Takeaways

  • Bitcoin daily sales from long-term holders have now dropped below $1 billion, a threshold they consistently exceeded last month.
  • Bitcoin [BTC] has posted consistent weekend gains, with the asset now less than $3,000 away from reclaiming its all-time high of $123,091.
  • Analysis shows the recent strength comes from reduced selling pressure among long-term holders, with buy activity gradually returning to the market.

Conclusion

In summary, Bitcoin long-term holders are showing signs of renewed confidence, reducing sales and shifting towards accumulation. This trend, coupled with a bullish market sentiment, could pave the way for Bitcoin to reach new heights in the near future.


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