Long-Term Bitcoin Holders Reach Record 69% of Supply

Long-term Bitcoin holders have reached a record high, controlling 14.5 million BTC, which represents 69% of the total circulating supply. This significant accumulation indicates a growing trust in Bitcoin's future value and its role as a store of value. The data reveals that long-term holders have been steadfast in their positions, particularly during market shifts, which has helped stabilize Bitcoin's price.

Historical data shows that long-term holders have exhibited distinct patterns during major market cycles. During the 2017-2018 bull run, their holdings decreased from 10.5 million to 8.5 million BTC. However, they began accumulating again during the 2018 bear market. A similar pattern was observed during the 2020-2021 cycle, where long-term holders reduced their positions during the bull run and started accumulating during the subsequent bear market. This behavior suggests that institutions are becoming more confident in Bitcoin’s long-term value proposition.

During the recent all-time highs of Bitcoin, long-term holders maintained their positions, with their supply remaining consistent at around 14 million BTC. This behavior contrasts with past bull market cycles, where long-term holders typically reduced their positions during price peaks. The current trend indicates that long-term holders are more confident in Bitcoin's future prospects and are less likely to sell during market highs.

The relationship between the quantity of long-term holders and the price of Bitcoin is complex. Price peaks often occur during periods of decreased long-term holder supply, while accumulation phases typically take place during market consolidation or downturns. This pattern creates natural price support levels, which contribute to market stability and confidence.

Currently, Bitcoin is trading above $100,000, and long-term holders are maintaining record positions. This combination suggests underlying demand and reduced selling pressure. Both institutional and retail investors are adopting long-term holding strategies, indicating growing market maturity and reduced volatility expectations. The data shows Bitcoin's evolution from a speculative asset to a store of value, with sustained long-term holding patterns suggesting increasing confidence in its future prospects.