Bitcoin Long-Term Holder Supply Hits Cycle Low as Selling Pressure Eases
Bitcoin’s long-term holder (LTH) supply hit a cyclical low when the price fell to $80,000, signaling that the wave of spot-driven selling may be tapering off. Since then, Bitcoin has rebounded to $90,000, roughly 15% higher, suggesting much of the market’s selling pressure from the recent 36% correction has already played out.
Long-term holders—defined as entities holding Bitcoin for at least 155 days—saw their supply bottom on Nov. 21, coinciding with the price low. The subsequent stabilization and modest recovery in supply indicate that seasoned holders are slowing their distribution, reducing structural sell pressure in the market.
Between July and November, long-term holders trimmed their holdings from 14,769,512 BTC to 14,330,128 BTC. Previous troughs in LTH supply occurred in April 2024 and March 2025. The April 2024 dip followed Bitcoin’s all-time high of $73,000, reflecting distribution into strength. The March 2025 low coincided with a tariff-driven correction, with Bitcoin bottoming near $76,000.
Historically, LTH supply has sharply declined during retail-driven mania phases, as seen in 2017 and 2021. This cycle, however, has been more measured, with steadier flows rather than a dramatic sell-off. Analysts say this shift highlights evolving market structure and holder behavior, signaling a departure from traditional four-year cycle patterns.
With long-term holders stabilizing, Bitcoin may now face lower selling pressure, setting the stage for potential price recovery in the months ahead.
