On-chain data shows the Bitcoin long-term holders have seen their supply go up recently, despite the unconvincing price action in the cryptocurrency.
Bitcoin Long-Term Holder Supply Has Surged By 332,000 Over The Past Month
As pointed out by CryptoQuant community analyst Maartunn in an X post, the Bitcoin long-term holder supply has been following an uptrend recently. The “long-term holders” (LTHs) refer to the BTC investors who have been holding onto their coins for more than 155 days.
The LTHs make up for one of the two main divisions of the BTC market done on the basis of holding time; the other side, containing coins aged 155 days or less, is called the “short-term holders” (STHs).
Statistically, the longer an investor keeps their coins dormant, the less likely they become to sell them in the future. As such, the STHs with their low holding time can be considered to include the weak hands of the market, while the LTHs can represent the stalwart diamonds.
Now, here is the chart shared by Maartunn that shows the recent 30-day net position change trend in the supply of these two Bitcoin groups:
As is visible in the above graph, the Bitcoin LTHs saw a negative monthly supply change during the second half of 2025, implying members of the cohort were breaking their dormancy, potentially to participate in selling.
From the chart, it’s apparent that the selloff was the most intense during November, suggesting even the diamond hands of the network were reacting to the crash. The metric remained negative for the rest of the year, but in 2026, a shift has occurred; the LTH netflow has been positive since January and its value has only been climbing over time. Currently, it’s sitting at +332,600 BTC.
Something to keep in mind is that while declines in the LTH supply can reflect distribution, the reverse isn’t true. This is because coins only become part of the LTH group after they have been held for a period of over 155 days. Thus, an increase in the LTH supply doesn’t mean that accumulation is happening in the present, but rather that it took place five months ago. Selling has no such delay attached as tokens see their age instantly reset back to zero as soon as they are involved in a network transaction.
Nonetheless, a rise in the LTH supply is naturally still a useful signal, reflecting an increased tolerance for long-term holding among investors. Interestingly, the recent large 30-day inflow into the group has come while the market has gone through uncertainty owing to the war. As such, it would appear that a segment of the investors continue to believe in Bitcoin even in these circumstances.
BTC Price
At the time of writing, Bitcoin is trading around $68,500, down more than 6% in the last week.
