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According to fresh data from Glassnode, long-term holders of Bitcoin, who usually sell their holdings at a profit in the market’s peak, are re-accumulating. These are investors who had shed close to 1 million BTC since the end of 2023 but are now upping their stakes, adding around 70,000 BTC since the price bottomed.
That group’s purchases are considered a very important barometer of market sentiment, reflecting as experienced investors. Meanwhile, buying at these levels reflects strong belief in the value of Bitcoin, now just above the $60,000 mark and steady.
Historically, it’s quite the mark of a market top where strong buying by short-term holders often precedes a decline. The accumulation trend of long-term investors could be hinting at a period of market stability and potential growth.
