Bitcoin Long-Term Holders Accumulate 167,000 BTC Amid Market Turbulence

Bitcoin’s long-term holders have resumed accumulation, marking a significant shift in investor sentiment despite recent market turbulence. Data from on-chain analytics platform Glassnode indicates that the “BTC: Long-term holder net position change” metric has turned positive for the first time this year. This suggests that long-term Bitcoin investors are taking advantage of current market conditions to significantly increase their BTC holdings.

Earlier this month, Bitcoin’s price experienced a sharp decline from above $90,000 to around $80,000 during a rapid sell-off. This price drop surprised many traders and triggered a wave of liquidations among short-term investors. However, long-term holders viewed the sub-$90,000 levels as a buying opportunity rather than a reason to sell. This behavior represents a notable reversal after starting 2025 with a negative net position change, marking the first net accumulation by these “HODLers” this year. Glassnode’s Long-Term Holder Net Position Change metric, which had been in the red, flipped “green” as long-term investors aggressively accumulated through the downturn.

On-chain data reveals that this shift to green has resulted in long-term holders increasing their net Bitcoin holdings by more than 167,000 BTC in the past month. This influx is valued at nearly $14 billion, indicating that seasoned holders began acquiring cheap BTC while short-term sentiment was at its lowest.

The timing of this shift from red selloff to green accumulation among long-term holders is notable, given the recent volatility in Bitcoin’s price. This data suggests that a significant portion of the Bitcoin crash was due to panic-selling among short-term holders. This behavior is consistent with past market cycles between August and September 2024, where long-term holders aggressively accumulated during price dips.

Glassnode’s long-term holder metric is not the only indicator pointing to positive Bitcoin sentiment among large holders. After weeks of uncertainty, Bitcoin exchange-traded funds (ETFs) have started seeing net inflows again. On March 17, spot Bitcoin ETFs collectively drew in about $274.6 million, the largest single-day inflow in 28 days and a clear signal of renewed investor interest. The very next day brought another wave of fresh capital, with roughly $209 million pouring into Bitcoin funds on March 18. This three-day streak represents the first sustained run of positive inflows since February 18, a period during which Bitcoin funds have experienced consecutive days of outflows.

This accumulation by long-term holders and the renewed interest in Bitcoin ETFs suggest a potential recovery in Bitcoin’s price. The data indicates that despite the recent market turbulence, long-term investors remain confident in Bitcoin’s long-term value and are taking advantage of lower prices to increase their holdings. This behavior aligns with historical patterns where long-term holders have accumulated during price dips, leading to subsequent price recoveries.