Bitcoin Long-Term Holders Keep Selling Pressure Muted as Holdings Near Record 16.41 Million

Forecast Trend Report by Period

Analysis shows selling pressure from Bitcoin long-term holders remains low, with their holdings also nearing a record high.

In a blog post on August 18, Axel Adler Jr. wrote that long-term holders now own 16.35 million Bitcoin, close to the record 16.41 million. As those holdings have continued to climb, selling by long-term investors has remained limited.

Long-term holders have also rarely reduced their positions. A chart Adler Jr. shared showed their holdings declined from the previous day on just two of the past 15 days.

Bitcoin is also trading above the average cost basis for long-term holders. At about $64,200, Bitcoin is roughly 30% above their average acquisition price of $49,400, keeping it in what Adler Jr. called a "Low Risk" zone.

Still, lower selling pressure from long-term holders does not automatically lead to a rise in Bitcoin prices. Their reluctance to trim holdings is positive from a supply perspective, but it does not mean demand is strong enough to drive a fresh rally.