Analysis: The holdings of long-term Bitcoin holders have risen to near historical highs, breaking the downward trend that lasted for the past two and a half years

According to CoinDesk, the holdings of long-term Bitcoin holders continue to rise, currently reaching about 16.3 million BTC, close to historical highs, breaking a downward trend that lasted for two and a half years.

Long-term Bitcoin holders are typically investors who have held their coins for more than 155 days. The holdings have increased from about 14.12 million BTC since Bitcoin reached its historical high of approximately $126,000 in October 2025, with an increase of about 200,000 BTC in the past month alone.

Historically, this metric only approached higher levels (around 16.4 million BTC) in January 2024, just before the launch of the U.S. Bitcoin spot ETF. Subsequently, as the market rose, long-term holders cumulatively reduced their holdings by about 2 million BTC over several months.

During typical bear markets or price correction phases, long-term holders usually re-enter accumulation cycles, indicating that "smart money" is flowing back into the market during periods of price pressure on Bitcoin.