Bitcoin long-term holders are aggressively accumulating! Holding 16.3 million coins, approaching a new all-time high. Is the next market wave about to arrive?

On-chain data shows that during market downturns, long-term Bitcoin holders have stepped in with aggressive buying. Their total stash has reached 16.3 million BTC, approaching the all-time high and successfully breaking a downward trend that has lasted for 2.5 years.

As the cryptocurrency market shakes, long-term holders—regarded as “smart money”—are buying Bitcoin heavily. Their stash is nearing its historical peak, successfully breaking a 2.5-year downtrend. Does this signal that the next wave of the market rally is coming?

On-chain data shows that the stash of long-term Bitcoin holders (holding for at least 155 days) is rising rapidly. It has now reached 16.3 million BTC, just one step away from the all-time high.

Image source: chechonchain

Looking back to last October, when Bitcoin surged past its historical record high of $126k, this group of long-term holders’ stash was about 14.12 million BTC. Today, it has ballooned to 16.3 million BTC, and even within just the past month, it has increased by roughly 200,000 BTC.

Historically, the only time when long-term holders’ stash was higher than it is now was right before the launch of the US Bitcoin spot ETF in January 2024, when it reached 16.4 million BTC. But in the following months, as Bitcoin’s price surged strongly, these big players also took the opportunity to realize profits, selling nearly 2 million BTC.

According to past market patterns, during periods when coin prices are sluggish or when the market is deep in a bear phase, it is often the best time for “smart money” to come in and pick up bargains. They typically offload at the highs of bull markets, then rebuild positions when the market falls into a low point and retail investors panic. Looking back at the two major bear markets in 2015 and 2019, it can be observed that long-term holders quietly accumulated when prices were weak, driving a significant rise in total holdings.

However, since the Bitcoin spot ETF debuted in January 2024, long-term holders’ stash has mostly been consolidating back and forth in the range of 14 million to 16 million BTC.

Now, this indicator has finally broken through the downward trend line that has lasted for 2.5 years, showing that when Bitcoin’s price is in a downturn, long-term holders have once again shifted into an “accumulation” mode rather than “diversified selling,” quietly building a foundation and laying the groundwork for potential future upside.

• This article is reprinted with permission from: 《Blockcast》
• Original title: 《Bitcoin Long-Term Holders Are Buying Frenzily! “Holding 16.3 Million Coins” Nears Record High》
• Original author: Block Sister MEL