Bitcoin Long-Term Holders Turn Net Accumulators Again As Supply Trend Shifts

According to on-chain analyst Darkfost, Bitcoin long-term holders, defined as addresses holding coins for more than six months, have shifted from net distribution to slight accumulation after months of selling. By adjusting data to strip out the impact of nearly 800,000 BTC moving off Coinbase, he finds the long-term holder supply change has turned modestly positive, with about 10,700 BTC aging into this cohort. Other analysts, including Ki Young Ju and Matthew Sigel, view the end of this large distribution phase as easing a major source of selling pressure, though it does not guarantee a price bottom.