Bitcoin's Price Stability Strengthened by Long-Term Holder Accumulation
Chance of new Bitcoin lows ‘extremely slim’ as long-term holders’ supply tops 15M BTC

Image: Cointelegraph
Bitcoin's price is unlikely to fall below $60,000 again as long-term holders now possess over 71% of the total supply, reaching 15.04 million BTC. Analysts note that a bullish technical signal and historical patterns suggest stability in Bitcoin's market, despite cautious miner activity.
- 01Long-term holders now control 71.6% of Bitcoin's total supply, equating to 15.04 million BTC.
- 02The weekly relative strength index (RSI) has retested the 50 level, indicating potential for upward price movement.
- 03Historical patterns show that Bitcoin typically enters expansion phases after the RSI surpasses the 50 threshold.
- 04Current market conditions reflect a steady accumulation of Bitcoin among long-term holders, contrasting with previous cycles.
- 05Miner reserves at Binance have decreased, indicating cautious behavior among miners despite positive long-term holder data.
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Recent data indicates that Bitcoin (BTC) is unlikely to fall below $60,000 again, as long-term holders have increased their share to 71.6% of the total supply, amounting to 15.04 million BTC. This significant accumulation among long-term holders is coupled with a bullish signal from the weekly relative strength index (RSI), which has retested the 50 level for the first time since February. Historically, such movements have preceded Bitcoin's entry into long-term expansion phases. Analyst Sykodelic noted that the current market conditions differ from the 2022 cycle, which was heavily influenced by the FTX exchange collapse and did not see a retest of the 50 RSI during recovery attempts. Furthermore, the one-year-plus holder metric indicates a return to the historically oversold accumulation zone, which has led to major price surges in previous cycles. However, caution remains among Bitcoin miners, as indicated by a slight decline in reserves at Binance, reflecting ongoing operational selling pressure. Overall, the combination of long-term holder accumulation and technical signals suggests that Bitcoin's price may stabilize in the near future.
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