TLDR
- Long-term Bitcoin holders are showing increased accumulation activity
- Supply measures indicate a modest increase in long-term holder positions
- The expert Axel Adler Jr. reports changes in holder behavior
- Patterns emerge during periods of market consolidation
- The data suggests growing confidence among experienced Bitcoin investors
Recent blockchain data indicates that long-term Bitcoin holders have begun to accumulate additional positions, marking a shift in investor behavior during the current market phase.
Chain analyst Axel Adler Jr. has identified an increase in the delivery metric for long-term holders (LTH), which tracks Bitcoin positions held for longer periods. This rise suggests that experienced investors are increasing their holdings despite recent market fluctuations.
The supply of long holders shows a slight increase after the peak sell-off at the 100K level compared to the supply of short holders.
This indicates that coins purchased 155 days ago by STH have transitioned to the LTH cohort. If this growth is confirmed in the next… pic.twitter.com/vJyRugLlSJ
— Axel 💎🙌 Adler Jr (@AxelAdlerJr) January 7, 2025
The accumulation pattern usually occurs during periods of consolidation, when prices stabilize within a specific range. These periods often precede major market movements, although the direction remains uncertain.
Data from the measures Short-term holder vs. Long-term holder supply reveals a gradual transition of coins from short-term traders to those with longer holding periods. This metric is considered a key indicator of market sentiment among established participants.
Long-term holders, defined as addresses that hold Bitcoin for more than 155 days, have historically shown more resilient behavior during market volatility. Their accumulation patterns often reflect a deeper conviction in Bitcoin’s fundamental value proposition.
The current increase in long-term holder supply comes after several months of relatively flat activity. Although the increase is described as modest, it represents a clear change in behavior from the previous quarter.
Technical analysis of the supply metrics shows that long-term holders now control a larger portion of the total supply of Bitcoin compared to short-term traders. This ratio has steadily increased in recent weeks.
Market observers note that similar accumulation patterns have occurred during previous consolidation phases. However, past patterns do not guarantee future market movements or price action.
After the biggest dump in 2024, Bitcoin whales are accumulating again
“But big players took advantage of the consolidation to open TWAP positions and patiently accumulated just below $95,000.” – Off @cauekonomi
The whole post 👇https://t.co/yGOkuW0zo7 pic.twitter.com/9lqlHoWa4O
— CryptoQuant.com (@cryptoquant_com) January 8, 2025
The data suggests growing confidence among experienced investors, who appear willing to increase their positions at current price levels. This behavior contrasts with short-term traders, who often display more reactive trading patterns.
On-chain metrics indicate that the accumulation is spread across multiple wallet addresses, suggesting broad participation rather than concentrated buying by a few large holders.
Supply concentration in wallets for long-term holders has reached levels not seen since the previous quarter, but still below historical highs from previous market cycles.
Trading volumes during this accumulation period have been relatively stable, indicating orderly market conditions without sudden spikes in buying or selling pressure.
New wallet analysis shows that the average holding period for Bitcoin positions has increased, supporting the broader trend of long-term accumulation.
The number of addresses that qualify as long-term holders has increased by 2.3% in the past month, according to blockchain analytics platforms.
The latest data points show continued accumulation from last week, with the supply of long-term holders up 0.4% over the seven-day period.
