According to the on-chain analytics platform CryptoQuant, long-term Bitcoin investors have accumulated 800,000 BTC in the past month, marking the highest level of accumulation in history.
Record Accumulation by Long-Term Investors
Long-term holders (LTH), defined as investors who have held their BTC for at least six months, are refraining from selling even as prices rise in 2025. This trend highlights the strengthening 'hodl' spirit in market psychology. CryptoQuant analyst Darkfost noted the significance of this move:
"The signal from LTHs this week is quite significant. Such accumulation increases have only been seen six times, the last two of which were precursors to major price increases in July 2021 and September 2024."
Short-Term Investors Eyeing $93,000
Short-term investors (STH) also play a crucial role in the market structure. Cointelegraph's analysis found that the average cost of STH is just under $100,000, and this area often acts as support during bull market corrections. On-chain analytics firm Glassnode emphasized the critical nature of the $98,000-$93,000 range this week:
"As long as the price stays above this range, the bull market structure remains intact. However, if it breaks below this support, a deeper correction could be triggered, especially if investors with costs in this area start panic selling."
Impact of Accumulation on the Market
The behavior of both short-term and long-term investors in Bitcoin plays a crucial role in the sustainability of the current market structure. The aggressive accumulation by long-term investors and the support level in the $93,000-107,000 range provide hope for the continuation of the bull market. However, any break below these levels could reverse market momentum.
The accumulation of Bitcoin by long-term investors creates confidence in future growth, yet it is essential to monitor price levels that may impact market stability.
