Long-term Bitcoin holders continue to accumulate assets, controlling a significant portion of the market, while institutional players like BlackRock show activity.
Increase in Long-term Bitcoin Holders' Reserves
Long-term Bitcoin holders now control over 14 million BTC, signaling a strengthening market structure. A Coinvo report indicates that long-term holdings have risen while short-term holdings have dropped below 3 million BTC, the lowest since 2011.
BlackRock's Institutional Purchases
BlackRock purchased 2,680 BTC worth approximately $282.9 million during a two-hour market dip. Transactions were conducted through Coinbase Prime's Hot Wallet. These purchases symbolize confidence from institutional investors seeking ETF exposure to Bitcoin.
Comparison of Bitcoin Market Cycles
According to Glassnode, Bitcoin has grown 656% since its low in 2022, less than the growth in previous cycles—1076% and 1007% in 2015-2018 and 2018-2022 respectively. The current Bitcoin growth shows slower but structurally mature behavior, as it is less influenced by retail speculation.
Recent events in the Bitcoin market indicate a strengthening structure based on the behavior of long-term holders and institutional flows, which may contribute to more stable pricing dynamics.
