Bitcoin’s Back! Holders Hold On Tight! 🚀

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Right, so, the Bitcoin market. It’s doing that thing again where it goes up. Apparently, it’s surged above $105,000, which, if you’re into that sort of thing, is a “key resistance level.” Whatever that means. 🤷‍♂️ Even though it briefly did a little wobble, some people with a lot of Bitcoins are suddenly very interested again. This is evidenced, and I quote, by a “recent spike in long-term holders’ supply.” Which sounds like something you’d find in a plumber’s manual, but there you go.

Long-Term Bitcoin holders Are Accumulating Again (Because Why Not?) 🤔

Bitcoin, being all trendy and above the $100,000 mark, is apparently making people feel things. On-chain expert and author Darkfost (sounds like a villain from a low-budget sci-fi film) reports that people who’ve had Bitcoins for a while are now holding onto them like they’re the last packet of peanuts on a long flight.

Now, the long-term Bitcoin holders’ supply has gone up, after it went down for a bit. This caused some mild panic, because people thought these “committed holders” might be selling off. The horror!😱 It seems they were starting to rethink their life choices after last week’s mild price shenanigans. But, fear not! They’re back, baby! Conviction and demand are up as BTC waltzes towards those “key resistance levels” again.

According to Darkfost’s “thorough analysis” (which probably involved staring at charts for hours while drinking lukewarm tea), the supply has jumped from 14.3 million BTC to around 15.8 million BTC in just a few days. That’s a lot of Bitcoins. Enough to buy a small planet, probably.

Apparently, this rebound thing might help Bitcoin keep going up. If more people hold onto their Bitcoins, the price might go even higher! It’s like a self-fulfilling prophecy, only with more digital currency and less actual prophecy.

Two Key Points From The LTHs Supply Rise (As If You Needed More) 🙄

Darkfost (yes, him again) has helpfully pointed out two things about this rise in LTHs supply. First, people who’ve had Bitcoins for ages are keeping them. Groundbreaking stuff.

Second, some people who bought Bitcoins more recently (like, over six months ago) are also holding steady. So, basically, everyone’s just sitting on their digital coins, hoping they turn into solid gold. ✨

With the market doing its market thing, Darkfost notes that this holding-on business is “a critical signal to observe.” Another thing he pointed out is that the amount of UTXOs spent by LTHs has plummeted since December 2024, except for that brief moment in March when everyone freaked out because Bitcoin dropped below $80,000.

At the time of writing, Bitcoin was trading at $102,603, which is almost a 3% drop from last week. But don’t worry! People are still betting that it will keep going up, as evidenced by a 79% surge in trading volume. Because nothing says “confidence” like frantically buying and selling digital tokens. 💸

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2025-05-19 19:43