Bitcoin Long-Term Holders Just Bought More BTC Than at Any Time Since 2017. What’s Next?

Bitcoin long-term holders (LTHs) accumulated BTC at the fastest pace in six years, according to CryptoQuant analyst Burakkesmeci. 

The trend suggests fresh confidence among experienced investors despite recent price weakness. On-chain data shows the LTH Net Position Change—a metric that tracks the 30-day increase or decrease in Bitcoin held by long-term investors—reached 1.29 million BTC on May 24, 2026. That surpassed the previous record set in August 2017.

Record Accumulation During Market Weakness

Burakkesmeci explained that the indicator tracks whether long-term holders are adding to or reducing their Bitcoin positions. Green readings signal accumulation, while red readings indicate distribution.

He said the latest record green reading suggests that “smart money” accumulated aggressively as Bitcoin approached its realized price during the market downturn. According to Burakkesmeci, buying at this scale reflects strong conviction despite the recent decline.

Bitcoin Rebounds After Buying Spree

Burakkesmeci cautioned that the indicator alone does not confirm the start of a new bull market. However, he described it as a strong bullish signal.

After the record accumulation, Bitcoin climbed about 15%, rising from roughly $58,000 to $66,000. The rally pushed the cryptocurrency close to the Short-Term Holder Realized Price (STH RP) of around $68,000.

The analyst identified $68,000 as a key resistance level. A breakout above it during the third quarter could strengthen Bitcoin’s short-term outlook.

At press time, Bitcoin traded at $63,973 after falling 2.5% over the past 24 hours. Despite the pullback, it remained up 3.5% over the past month.

Another CryptoQuant Metric Shows Investor Repositioning

In a separate analysis, CryptoQuant contributor Nino pointed to rising exchange inflows from Bitcoin held for six to 12 months. He observed a noticeable increase in Exchange Inflows within the 6M–12M Spent Output Age Bands. Volatility in the cohort’s market dominance also increased.

According to Nino, the movement of these mid-term holdings onto exchanges may indicate investors are rebalancing or repositioning their portfolios ahead of the market’s next phase.

While the inflows do not necessarily signal immediate selling pressure, they may be strategic positioning as Bitcoin approaches a critical technical level.

Supply in Profit Improves as Recovery Continues

The accumulation trend also aligns with signs of improving on-chain conditions. A separate CryptoQuant analysis found that Bitcoin’s Supply in Profit rose to 57.5% from 46.2% over the past three weeks, indicating that a growing share of BTC holders has returned to profitability.

However, previous bear markets ended only after at least 64% of Bitcoin’s supply returned to profit. With the metric currently at 57.5%, the market may still be in a recovery phase rather than a confirmed new bull cycle.