Bitcoin Long-Term Holders Accumulate 28K BTC in Two Days, Eyeing $160K Rally

Bitcoin has been under intense scrutiny by analysts, who have drawn parallels between current market dynamics and historical patterns to predict future price movements. Axel Adler, a prominent analyst, has identified three historical patterns that suggest Bitcoin could rally to $160,000. Adler believes that this phase, characterized by significant accumulation by long-term holders (LTHs), could last between 4 to 8 weeks. This observation is supported by the fact that throughout each of the three major rallies since November 2022, LTH accumulation has preceded every major move higher.

Throughout the current cycle, Bitcoin’s long-term holders (LTHs) have shown strong conviction, continuing to increase their holdings while reducing spending even during corrections and macroeconomic uncertainties. Now, with prices stable around $107K, LTHs have once again surpassed Short-Term Holders (STHs) in dominance, reigniting bullish talk in the crypto circles. This power dynamics observed in the market has left analysts talking, with Axel Adler eyeing a rally to $160k.

On-chain metrics back Adler’s thesis. Long-Term Holder Supply has now climbed to 14.18 million BTC, while Short-Term Holder Supply has slipped to just 3.9 million BTC. This shows that while LTHs’ supply is surging significantly, STHs’ holdings are declining even though prices are stable. As such, LTH’s Net Position Change has bounced back from a recent drop from 181k to 209kBTC. This shift in LTH supply suggests that with the market recovering from recent pullback, they are buying even more. Even more telling is the Net Position Change for LTHs, which recently jumped from 181K to 209K BTC—an increase of 28K BTC in just two days.

That spike didn’t just signal strength; it helped absorb selling pressure. As STHs cashed out during the recent $98K drop, LTHs stepped in with confidence, buying the dip and pushing the price back toward $107K. In the short term, though, if this group continues to stack, they will boost BTC to reclaim $110k and eye $112k psychological level. In the long run, as predicted by Adler, based on a more conservative multiplier of ×1.6, BTC could rally to $160k. Although not improbable, this level is far-fetched as of now.