In a bullish twist for the crypto market, Bitcoin’s long-term holders (LTHs) have amassed an unprecedented 14.46 million BTC, according to recent data from Glassnode. This surge, marking a milestone in investor confidence, is seen as a harbinger of potential price gains. As of June 2025, these LTHs—investors who’ve held their Bitcoin for at least 155 days—are often dubbed the “smart money,” known for their strategic buying during market dips and selling during peaks.
Bitcoin’s “Smart Money” Betting Big
The significant uptick in LTH supply, which has grown by approximately 500,000 BTC from March to June 2025, indicates a robust belief among seasoned investors that Bitcoin’s price will rise. This sentiment is further reinforced by their historical tendency to anticipate major price rallies. During the same period, short-term holders (STHs) have offloaded about 350,000 BTC, showcasing a contrasting strategy that highlights the LTHs’ bullish stance. This follows a pattern of institutional adoption, which we detailed in Bitcoin Surges Past $94,000 as Institutional Interest and Market Optimism Grow.
Intriguingly, many of these long-term holders originally entered the market amid the buzz of January’s events, including Donald Trump’s inauguration and Bitcoin’s then-record high of $109,000. Despite enduring a subsequent 30% market correction, these investors have held firm, buoyed by a remarkable recovery and a return to record levels.
The Dominance of Long-Term Holders
The current configuration of Bitcoin holdings paints a picture of market dominance by LTHs, who now account for roughly 73% of Bitcoin’s total circulating supply of 19.88 million BTC. This concentration of ownership suggests a solid foundation for potential upward price movements, as these holders tend to exert a stabilizing influence on the market.
Crypto analyst and market commentator, Jenna Lewis, notes, “The behavior of long-term holders is a critical barometer for future price trends. Their growing control over the circulating supply underscores a collective anticipation of a bull market. It’s a pattern we’ve seen play out before significant rallies.”
A Historical Perspective with Modern Implications
Historically, periods of increased LTH activity have predated major price surges. The current scenario appears to echo such past trends, raising the possibility of another upward trajectory for Bitcoin. However, this growing optimism is tempered by the inherent volatility of the cryptocurrency market, which can swing unexpectedly. For a deeper dive into market perceptions, see Bitcoin Surpasses $95K Amid Resilient U.S. Stocks, Analysts Voice Concerns Over Market Perception.
The ongoing accumulation by LTHs, coupled with their strategic patience, seems poised to influence market dynamics significantly. While the immediate future remains uncertain, the increasing concentration of Bitcoin in the hands of these seasoned investors could set the stage for a potential price upswing.
Yet, some questions linger. Can this trend of accumulation continue unabated? Will the STHs’ contrasting sell-off strategies impact market stability? These are the narratives that will unfold in the coming months, shaping the cryptocurrency landscape.
As Bitcoin’s long-term holders continue to stack their chips, the market watches closely, poised on the brink of what could be another historic rally. The only certainty is uncertainty—a hallmark of the crypto world.
Source
This article is based on: Growing Stacks of Bitcoin Long-Term Holders Signals Bullish Outlook
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
