Bitcoin’s most experienced investors have increased their holdings at the fastest pace in over six years, according to recent data. This surge in activity by long-term holders has also coincided with a return to significant realized profits, a trend that has often signaled new phases of upward momentum in the market.
Long-term holders accumulate at fastest rate since 2017
On-chain analytics firm CryptoQuant reported that Bitcoin’s 30-day Long-Term Holder (LTH) Net Position Change climbed to around 1.29 million BTC in late May. This level marks the highest monthly accumulation by the cohort since tracking began and surpasses peaks from previous bullish cycles, including the 2017 market rally.
The LTH Net Position Change evaluates the net flow of Bitcoin into wallets held for extended periods over a rolling 30-day window. Sustained positive readings typically indicate that seasoned investors are adding to their positions instead of taking profits or reducing risk.
This record accumulation occurred while Bitcoin traded noticeably below its recent all-time highs, indicating that these holders saw opportunity during the market’s pullback rather than reasons to exit.
Historically, similar periods of robust accumulation by long-term holders have emerged as speculative traders reduced exposure, while investors with high conviction strengthened their positions quietly.
Mini dictionary: CryptoQuant, an on-chain analytics company, provides data and research on cryptocurrency networks by monitoring wallet movements, exchange flows, and other blockchain-based metrics for traders and analysts.
Market watchers note that the latest phase has surpassed all prior accumulation episodes since at least 2021 and even exceeded levels seen during the 2017 bull market.
Profitability improves for Bitcoin’s long-term holders
Further data from Glassnode indicate that these long-term holders have recently returned to strong realized profits. By tracking Bitcoin transfers to exchanges using a 30-day moving average, analysts observed that holders who held coins through the downturn are now exiting with substantial gains following the recovery from recent lows.
Similar spikes in realized profitability among seasoned holders previously preceded major market advances, including during the significant market expansions in 2020 and 2021. This confluence—high accumulation and rising profitability—points to a robust sense of conviction among core Bitcoin holders.
While periods of widespread profitability can sometimes trigger profit-taking, analysts noticed that current conditions are unique because accumulation has intensified even as profits rose. This reflects a confident outlook among large, established investors despite recent volatility.
Although improving on-chain signals point to stronger market conditions, analysts stress that individual indicators cannot guarantee the start of a new bull phase.
Historically, long-term holders’ accumulation often serves as a reliable indicator of deeper conviction in Bitcoin’s prospects, as these wallets are typically less reactive to price swings than newly joined participants.
| Accumulation Period | 30-Day LTH Net Position Change | Market Context |
|---|---|---|
| Late May 2026 | 1.29 million BTC | Strongest in over 6 years |
| 2021 Peak | Below 1.29 million BTC | Bull market |
| 2017 Cycle | Below 1.29 million BTC | Bull market |
Bitcoin’s price recently rebounded approximately 15%, approaching the critical $68,000 short-term holder realized price level, which many analysts view as a key point for the upcoming trend direction.
