Data shows the Bitcoin long-term holders have witnessed a notable surge in their supply recently, a sign that market behavior has been shifting.
Bitcoin Long-Term Holder Supply Has Gone Up Over The Past Month
According to data from on-chain analytics firm CryptoQuant, Bitcoin supply has been moving into the hands of the long-term holders recently. The “long-term holders” (LTHs) here refer to the BTC investors who have been holding onto their coins since more than 155 days ago.
Statistically, the longer investors keep their tokens dormant, the less likely they become to transfer them in the future. As such, the LTHs with their relatively long holding time are considered to represent the resolute side of the market.
Now, here is a chart that shows the 30-day netflow in the supply of these Bitcoin diamond hands over the last couple of years:
As displayed in the above graph, the Bitcoin LTHs have seen their 30-day netflow sit at notable positive levels recently, suggesting that tokens have been maturing into the cohort. More specifically, 303,500 BTC entered the group over the past month.
In the second half of last year, the LTHs were participating in net distribution, and their selloff intensified as the price plunged in the fourth quarter. The pattern started to shift in January 2026, with HODLing behavior in the market ramping up during the post-February crash consolidation phase.
While this development has happened, the short-term holders (STHs), corresponding to buyers from the last five months, have naturally observed a decline in their supply.
In the same period, the spot exchange-traded funds (ETFs) and Strategy have also absorbed a chunk of the supply, with their holdings rising by 16,800 and 53,000 coins, respectively. Based on the trend, CryptoQuant has noted, “Bitcoin supply is moving into stronger hands.”
In some other news, the latest Bitcoin recovery rally doesn’t find spot demand at its source, as explained by CryptoQuant head of research Julio Moreno in an X post.
From the above chart, it’s visible that the change in the BTC spot demand has mostly been negative for the last few months and the latest rally hasn’t seen the trend shift. Meanwhile, the futures market has seen demand climb instead. “The recent Bitcoin price increase is completely driven by demand in the perpetual futures market,” said Moreno.
A similar pattern was witnessed during the January BTC price rally, but without spot demand, that run couldn’t last. “There are risks of a correction if traders start taking profits while spot demand continues to contract,” noted the analyst.
BTC Price
At the time of writing, Bitcoin is floating around $77,600, up 4% in the last seven days.
