Data: Bitcoin Long-Term Holder Supply Has Stagnated Since October High

Data shows the Bitcoin long-term holder supply has mostly moved sideways since the high in October of last year. Bitcoin Long-Term Holder Supply Has Stagnated As Sell-Side Balances Buy-Side As per the latest weekly report from Glassnode, the BTC long-term holder accumulation seems to have stopped following the October high. The “long-term holder” (or LTH in short) supply is the part of the total Bitcoin supply that hasn’t observed any movements since at least 155 days ago. When the value of this indicator goes up, it means more coins are maturing beyond the threshold. Sustained such trend can be a sign of accumulation from investors, and can prove to be bullish for the crypto’s value. On the other hand, a downtrend in the metric implies LTHs are selling their coins (thus resetting their age to zero days). Dumping from these holders is usually a bearish sign for the price of Bitcoin. Now, here is a chart that shows the trend in the BTC long-term holder supply over the past few years: Looks like the value of the indicator has stagnated recently | Source: Glassnode's The Week Onchain - Week 12, 2022 As you can see in the above graph, the Bitcoin long-term holder supply hasn’t shown much movement since the high in October. The indicator seems to have followed a similar pattern over the past few years. Both in 2019 and 2021, the LTHs sold their coins and kicked off the respective bull rallies of t...