Long-term holders are rebuilding their positions - new buying impulses are coming in

The Bitcoin market is currently undergoing an important phase of transformation. After an intense period of sell-off, when long-term holders released over one million BTC — representing the strongest selling pressure from this group since 2019 — we are now witnessing a change in direction. Their net assets have recently increased by approximately 33,000 BTC over the past 30 days, signaling that large wallets are gradually returning to accumulation strategies.

This is the third significant long-term holder sell-off in the current market cycle — the previous ones occurred in March and November 2024. Each time, patterns indicated the transient nature of these movements. This time, the difference is that there is an organic influx of new market participants, who are gradually evolving towards long-term holding strategies.

The outlook for changes in the net asset flow of long-term holders suggests that the consolidation phase is slowly transforming into an accumulation phase. The new market dynamics — where we simultaneously observe some participants exiting positions while new buyers enter the market — indicate a more diversified participant structure.