Growing 18–24-Month Bitcoin Holders May Signal Stronger Conviction as Rally Consolidates After Spot ETF

• Long-term Bitcoin holders (18–24 months) are increasing their share of supply.

• This accumulation aligns with the January 2024 spot Bitcoin ETF approval and greater institutional access.

• On-chain data from CryptoQuant indicates a measurable uptick in long-term retention since 2024.

Long-term Bitcoin holders rising: evidence of durable accumulation after the spot Bitcoin ETF approval. Read the data-driven analysis and expert notes.

What are long-term Bitcoin holders and why are they rising?

Long-term Bitcoin holders are investors retaining BTC for 18 months or longer; their rising share suggests deliberate accumulation and stronger investor conviction. On-chain data from CryptoQuant shows growth in the 18–24 month cohort, which historically stabilizes price through cycles and supports sustained rallies.

How did the spot Bitcoin ETF approval influence long-term holding?

The January 2024 approval of a spot Bitcoin ETF increased accessibility for institutional and retail investors, coinciding with higher accumulation among long-term holders. CryptoQuant analyst Avocado_onchain observed that ETF-listed access and traditional finance entry points contributed to strategic portfolio allocation and longer holding horizons.

Long-term Bitcoin holders are rising in share, signaling stronger conviction and positioning as Bitcoin consolidates in the current rally.

• The 18 months to 2-year long hold of Bitcoin by investors boosts momentum as more participants commit to long-term expansion.
• The accumulation trend is consistent with structural changes after the spot Bitcoin ETF approval in January 2024.
• Rising long-term holders indicate active conviction and a transition from passive endurance to intentional market positioning.

Bitcoin is leading the current rally, and the distinct trend is a growing proportion of long-term investors. These investors are increasingly aligning for multi-year growth, signaling a strategic shift in market participation and conviction.

How does on-chain data show the trend in long-term holding?

On-chain metrics from CryptoQuant register increases in supply held by addresses that have not moved coins for 18–24 months. This cohort, historically resilient through bear cycles, now represents a larger share of circulating supply. The data indicates accumulation peaks correlated with improved market infrastructure and ETF uptake.

Why does a higher share of long-term holders matter?

Higher long-term retention reduces available liquid supply, which can amplify price stability and upward momentum. These holders have historically acted as a stabilizing base during downturns. If the trend continues, the market could shift from short-term volatility-driven moves to more durable, conviction-based rallies.

A Growing Base of Committed Holders

CryptoQuant, via analyst Avocado_onchain, noted that Bitcoin’s rebound is supported by investors holding assets for 18 months to 2 years. Historically, this group preserved positions through extended bear markets and now appears to be deliberately positioning for continued growth.

The current trend suggests behavior evolution: many holders now deliberately align with Bitcoin’s growth trajectory rather than merely enduring volatility. The expanding cohort demonstrates how market participation is adapting as Bitcoin consolidates at higher levels.

When did accumulation accelerate?

Accumulation accelerated around January 2024 with the spot Bitcoin ETF approval. Since then, on-chain indicators showed a sustained increase in long-term holding cohorts, reflecting strategic portfolio shifts and institutional engagement in the market.

Key Takeaways

• Long-term accumulation: The 18–24 month holder cohort has grown, strengthening market foundations.
• ETF correlation: Spot Bitcoin ETF approval in January 2024 coincided with increased long-term retention.
• Market impact: Rising long-term holders reduce liquid supply and support more durable rallies; monitor on-chain metrics for confirmation.

Frequently Asked Questions

How do long-term holders affect Bitcoin price stability?

Long-term holders reduce circulating supply available to trade, which can dampen volatility and support upward pressure when demand rises. Historically, increased long-term retention has correlated with more stable recovery phases.

Can ETF approvals change investor holding behavior?

Yes. Structural access provided by ETF approvals encourages institutional and retail allocations, often leading to longer holding periods as Bitcoin becomes more integrated with traditional portfolios.

Conclusion

The rising share of long-term Bitcoin holders points to a market increasingly built on conviction and structural access, notably after the January 2024 spot Bitcoin ETF approval. On-chain evidence and expert observations suggest this cohort will remain a critical factor in the current rally; monitor cohort metrics to gauge future resilience and allocation trends.

Published by COINOTAG • Updated: October 3, 2025