BTC Long-Term Holders Signal Bullish Outlook with Record Supply
Long-term holder (LTH) bitcoin supply, as tracked by Glassnode, has surged to a record 14.46 million BTC, signaling confidence that price gains are in store.
LTHs, defined as investors holding bitcoin
From March to June, LTH supply increased by approximately 500,000 BTC, while short-term holders (STHs) sold around 350,000 BTC
Many investors now classified as LTH entered the market amid the euphoria of January's Trump inauguration and $109,000 record. Five months later, having endured a 30% correction and now the bounce back to a record, these LTH's are demonstrating resilience.
LTHs currently represent about 73% of bitcoin’s circulating supply of 19.88 million BTC, underscoring their dominance in the market. This concentration of bitcoin in long-term hands, suggests potential for further price upside.
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