Bitcoin Registers Record 15.8M Long-Term Holders Amid Price Decline – Here’s Why
Prominent crypto analysis page XWIN Research Japan reports that Bitcoin has reached a new milestone: 15.8 million long-term holders. Interestingly, this record has come amid a bearish period for the leading cryptocurrency, whose value has dropped by 9% since May 6, when prices first peaked around $82,000. In a QuickTake post on May 30, XWIN analysts dissect this structural anomaly, noting that a surge in long-term holders (LTH) is typically interpreted as a major bullish signal. For context, Bitcoin long-term holders refer to investors/addresses that have held Bitcoin for over 155 days. These investors are generally non-reactive, and their behavior is often seen as a reflection of long-term market conviction. Related Reading: Bitcoin Has Hit A Ceiling, Analyst Says No Buying Until Price Hits This Level Bitcoin LTH Surge Points To Demand Shortage An increase in long-term holders suggests a market dominated by investors with less intention to sell but holding in expectation of future pri