Long-term holders (LTHs) now control a record 79% of Bitcoin's circulating supply, signaling potential bear market exhaustion. This concentration indicates strong conviction among HODLers, historically preceding market bottoms. Analyst K33 suggests this metric, combined with historically low old-coin spending, points to reduced sell pressure and a potential market turnaround. This trend implies that the majority of available supply is illiquid, limiting downside and setting the stage for future price appreciation. Watch for a sustained increase in old-coin spending to confirm a shift in market dynamics.
Record Bitcoin supply held by long-term holders suggests significant illiquidity, reducing future sell pressure. This historical pattern often precedes market bottoms, indicating a potential accumulation phase for institutional investors. Reduced available supply could amplify price movements on future demand spikes.
This story highlights Bitcoin's increasing maturity and the growing conviction of its core holders. The market structure is shifting towards extreme illiquidity, indicating a supply shock is brewing. This setup suggests that future demand will face significant supply constraints, leading to robust price appreciation.
Bitcoin Magazine 79% of Bitcoin Supply Now Locked by Long-Term Holders. Analyst Sees Bear Market Nearing Exhaustion Bitcoin may be nearing a bear market bottom, according to K33, as long-term holders now control a record 79% of circulating supply and historically low old-coin spending suggests persi