Bitcoin’s long-term believers are doubling down. In what analysts are calling one of the strongest accumulation phases in years, seasoned holders have quietly scooped up over 800,000 BTC in just 30 days — a record-setting move that could shape the next phase of the bull cycle.
This cohort, known in on-chain analytics as long-term holders (LTHs), typically holds Bitcoin for six months or more without selling. Their recent activity shows no signs of slowing, even with prices hovering near all-time highs in 2025. The behavior signals strong conviction, and analysts are beginning to take notice.
According to CryptoQuant, similar accumulation patterns have only surfaced a handful of times in Bitcoin’s history — most recently ahead of rallies in mid-2021 and late 2024. This suggests a familiar setup: strong hands accumulating in silence before the next leg upward.
The average cost basis for these long-term positions falls between $95,000 and $107,000, forming what many now view as a critical support zone. As long as price holds within this band, bullish momentum may remain intact.
Meanwhile, short-term traders are focused on a narrower window. Data from Glassnode shows that many recent buyers entered the market near $98,000, with $93,000 acting as a key psychological floor. If prices dip below this range, panic selling could accelerate and trigger a sharper correction.
Still, for now, the trend remains upward. Long-term wallets are growing, short-term support has held, and on-chain data shows investors aren’t ready to let go. The message from the blockchain is clear: the market may be pausing, but conviction is building behind the scenes.
