CryptoQuant: Record Bitcoin long-term holder supply signals buyer drought, not strong conviction
By
Sam Reynolds
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Summary
Bitcoin is trading around $73,500, roughly 10% below recent highs near $80,000. CryptoQuant data reveals that a record 15.8 million BTC classified as long-term holder supply may not signal strong investor conviction, but rather a shortage of new buyers. The analysis points to slowing whale accumulation, weakening ETF demand, and bearish prediction market odds as factors reducing market turnover and liquidity.
Key quotes
· 3 pulledA record 15.8 million BTC is now classified as long-term holder supply
CryptoQuant says the figure says less about investor conviction than it does about market turnover
As whale accumulation stalls and demand from ETFs and other large holders slows, fewer coins are changing hands
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