Bitcoin Long-Term Holders Accumulate 300,000 BTC, Signaling Bullish Sentiment

Bitcoin’s long-term holders (LTH) are showing renewed confidence, with on-chain data revealing a sharp drop in their spending activity—now at its lowest level in eight months. Analyst Axel Adler Jr. reports that this investor group has accumulated a staggering 300,000 BTC over the past 20 days, reflecting their bullish outlook.

Historically, reduced LTH spending has aligned with major Bitcoin rallies. Their reluctance to sell during price recoveries reduces the available supply on exchanges. When paired with stable or growing demand, this supply squeeze can drive prices higher. Instead of taking profits as Bitcoin approaches previous peak levels, these seasoned investors are doubling down on their holdings—suggesting they expect continued price appreciation.

The behavior of LTHs is especially significant given the reduced new BTC issuance following the recent halving. Combined with decreased existing supply due to accumulation, this dynamic adds further upward pressure on Bitcoin’s price if buying interest holds steady.

Another key bullish signal comes from Glassnode data showing increased network activity. The 30-day simple moving average (SMA) of unique BTC addresses has once again crossed above the 365-day SMA—a pattern historically linked to the beginning of strong bullish trends. This uptick in user activity and engagement supports the thesis of rising demand.

Additionally, the long-term holder cost basis—the average acquisition price for these investors—acts as a psychological support zone. When BTC nears this level, LTHs often increase their buying, helping to stabilize the market during downturns.

Overall, the convergence of strong accumulation, reduced sell pressure, and rising network activity points to a bullish phase ahead for Bitcoin, reinforcing its long-term growth narrative.