Bitcoin Top Buyers Preferring To Hold Rather Than Sell, Glassnode Reveals

Source Bitcoinist

The on-chain analytics firm Glassnode has explained how the investors who bought at the Bitcoin top are showing conviction, not capitulation.

3 To 6 Months Old Bitcoin Buyers Have Been Holding Strong Recently

In a new post on X, the on-chain analytics firm Glassnode has discussed a couple of Bitcoin investor cohorts. One of these groups is the “long-term holder” (LTH) cohort, which includes the BTC investors who bought their coins more than 155 days ago.

Statistically, the longer a holder keeps their coins dormant, the less likely they become to move the coins at any point. As such, the LTHs with their appreciable holding time represent the resolute side of the market.

Though, while these investors can be termed as ‘diamond hands,’ it’s not as if they never participate in any selling at all. In fact, during two selling waves in the current cycle alone, the group has done a total distribution of 2 million BTC.

Bitcoin Long-Term Supply

From the above graph, it’s visible that the first LTH selloff was followed by a period of re-accumulation, which brought the group’s supply back to almost the same level as before the distribution wave.

The second distribution phase, which occurred between October 2024 and January 2025, is also similarly being followed by an accumulation wave, as the LTH supply has been rising during the last couple of months. “This cyclical balance may be stabilizing price action,” notes the analytics firm.

Something to note is that whenever the LTH supply rises, it doesn’t represent any buying that’s occurring in the ‘now.’ Rather, it shows that some accumulation occurred 155 days ago and those coins have now been held long enough to become a part of the cohort.

This five-month cutoff puts the latest LTH acquisition point at the end of November, which means that the recent increase in the indicator correlates to buying that occurred during the BTC rally to prices beyond $90,000. Many of the November buyers should now be in the red, but these investors have continued to hold nonetheless, earning their title as HODLers.

A segment of investors that should be under more intense pressure is the 3-month to 6-month group. This cohort represents the holders who are transitioning into the LTHs. Many of these investors would have bought at or near the price all-time high (ATH), so they could be notably underwater today.

Interestingly, these investors have been showcasing strong conviction recently, as the amount of wealth held by them has only been rising while the Bitcoin price continues to struggle.

Bitcoin 3 months to 6 months

Naturally, the weak hands who got in during the Bitcoin top would have already capitulated long ago and never matured into the 3 months to 6 months range, but it’s still significant that those who are left aren’t shaken by the market volatility.

BTC Price

At the time of writing, Bitcoin is trading at around $84,300, down more than 3% in the last seven days.

Bitcoin Price Chart

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold price bulls could regain control amid fading US-China trade deal optimismGold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low.
Author  FXStreet
4 Month 24 Day Thu
Gold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low.
placeholder
Solana (SOL) Holding Strong Above $150 — Breakout Zone In PlaySolana started a fresh increase from the $132 support zone. SOL price is now consolidating and might climb further above the $155 resistance zone. SOL price started a fresh increase above the $135
Author  NewsBTC
17 hours ago
Solana started a fresh increase from the $132 support zone. SOL price is now consolidating and might climb further above the $155 resistance zone. SOL price started a fresh increase above the $135
placeholder
Ethereum Price Forecast: Accumulation addresses grab 1.11 million ETH as bullish momentum risesEthereum (ETH) saw a 1% decline on Friday as sellers dominated exchange activity in the past 24 hours. Despite the recent selling, increased inflows into accumulation addresses and declining net taker volume show a gradual return of bullish momentum.
Author  NewsBTC
17 hours ago
Ethereum (ETH) saw a 1% decline on Friday as sellers dominated exchange activity in the past 24 hours. Despite the recent selling, increased inflows into accumulation addresses and declining net taker volume show a gradual return of bullish momentum.
placeholder
XRP Price Hovers at Support — Can The 100 SMA Spark Bullish Bounce?XRP price corrected gains from the $2.30 zone. The price is now consolidating near the $2.150 support and might aim for a fresh increase. XRP price started a fresh increase above the $2.150 zone. The
Author  NewsBTC
17 hours ago
XRP price corrected gains from the $2.30 zone. The price is now consolidating near the $2.150 support and might aim for a fresh increase. XRP price started a fresh increase above the $2.150 zone. The
placeholder
Ethereum Flashes Bullish Golden Cross – Is A Major Rally On The Horizon?Ethereum (ETH), the second-largest cryptocurrency by market cap, is up 9.9% over the past week. Recent analyses suggest the digital asset may continue its bullish momentum in the near-term. Ethereum
Author  NewsBTC
17 hours ago
Ethereum (ETH), the second-largest cryptocurrency by market cap, is up 9.9% over the past week. Recent analyses suggest the digital asset may continue its bullish momentum in the near-term. Ethereum
goTop
quote