Long-term holders of Bitcoin (BTC) have shifted back into accumulation for the first time in six months. With the major selling pressure from the long-term bag holders now abating, is it enough to help push the bulls higher?
BTC Long-Term Holders Turn To Net Accumulators
Long-term holders (LTHs), entities that have held Bitcoin for at least 155 days, reduced their holdings from 14.8 million coins in mid-July to 14.3 million in December. The LTHs sold off over 1 million BTC during the 36% massive drawdown in October, representing the largest sell-pressure event from this category since 2019. Back then, the sell-off coincided with the bear market that saw BTC plunge to as low as $3,200.
However, the period of heavy profit-taking by long-term holders is essentially over. According to data from checkonchain, the investors have amassed approximately 33,000 BTC over the last 30 days.
“Long-term holders have stopped selling Bitcoin for the first time since July 2025. Things are looking good for a relief rally here,” crypto investor Ted Pillows observed in an X post.
Historically, large Bitcoin holders and whales are considered large sources of sell pressure. If demand remains constant or increases as the selling pressure tapers off, there is a likelihood of a significant upsurge since there are now fewer whale sellers suppressing the price.
The price of Bitcoin climbed above $90,000 over the weekend, though the world’s oldest and largest cryptocurrency has retraced slightly to $88,870 ahead of the New Year. BTC remains 29.5% down from the new peak above $126,000 set in early October, CoinGecko data shows.
