Long-term Bitcoin holders (LTH) continue to increase their supply, reaching a record of 800,000 BTC in the past month. These changes may signal important trends in the market.
Historic Increase in Long-Term Holder Supply
According to data from the analytics platform CryptoQuant, long-term holders of Bitcoin have increased their supply by 800,000 BTC over a 30-day period, setting a new record. Analysts noted that such increases have occurred only six times in Bitcoin's history, and they often preceded price surges.
Importance of Support Levels for Investors
Long-term buyers of Bitcoin now have a purchase price between $95,000 and $107,000, reinforcing this range as a potential support zone. Meanwhile, short-term holders (STH) have average costs just below $100,000, which serves as a crucial threshold during market corrections.
Market Participant Behavior Analysis
Analysis by Glassnode indicates that Bitcoin's price must remain above $93,000 to maintain the current market structure. A drop below this level could trigger a deeper correction, especially if holders with a cost basis in this range begin to sell.
Support from long-term Bitcoin holders and price level trends suggest significant changes in market participants’ behavior that could influence price dynamics in the near future.
