Long-Term Bitcoin Holders Are Buying Again at a Rate Not Seen Since July 2025

After eight consecutive months of selling, Bitcoin’s long-term holders have flipped back to net accumulation at a pace that matches the buying intensity last seen during the summer 2025 rally.

What the Chart Shows

The CryptoQuant Long Term Holder Supply Change chart covers June 2025 through early March 2026. The story it tells is almost uncomfortably clear.

June and July 2025 show dense green bars reaching up to 20,000 BTC of net LTH buying per 30-day window. Bitcoin was climbing through $95,000 to $105,000 during that period. Then the selling began.

From August 2025 onward the chart flips entirely red. Month after month of consecutive net selling, with the deepest red bars appearing in November and December 2025 as price dropped from $108,000 toward $80,000. The selling continued through January 2026 and into February as price fell to the $63,000 to $65,000 range visible on the right side of the price line.

Then in late February and early March the bars flip green again. The current reading shows approximately 7,400 BTC of net LTH accumulation over the past 30 days. That number sits at the horizontal green reference line drawn across the chart, explicitly marking it as the first comparable buying volume since July 2025.

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Why This Signal Matters

Long-term holders are defined as addresses that have not moved their Bitcoin in at least 155 days. These are not traders reacting to daily price moves. They are investors with conviction horizons measured in months and years. When they sell, it is typically into strength, distributing to shorter-term buyers at higher prices. When they buy, it is typically near what they believe to be undervalued levels.

Eight months of consecutive LTH net selling through a price decline from $108,000 to $63,000 represents a prolonged distribution cycle that has now apparently ended. The flip to accumulation at current prices between $65,000 and $73,000 suggests this cohort views the current range as a bottoming region worth building positions in rather than a level to continue reducing exposure.

The last time they bought at this intensity, June and July 2025, Bitcoin subsequently ran to its all-time high above $108,000. That precedent is not a guarantee. It is context.

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