COINOTAG News (Sept. 19) reports CryptoQuant analyst Axel Adler Jr noted on Platform X that since March Bitcoin Long-Term Holders have seen their realized prices rise faster than spot, creating a measurable bullish divergence. This development reflects a shift in the holder composition rather than an ephemeral price spike, highlighting a more durable market signal identified by on-chain metrics.
According to the analyst, higher-cost coins purchased during spring and summer are transitioning into the LTH cohort, elevating aggregate LTH realized prices and compressing historical profit multiples. As short-term demand absorbs incremental selling from these maturing positions, the result is a gradual, market-wide healthy reset that reduces downside concentration and can help stabilize longer-term price dynamics.