Bitcoin’s long-term holders (LTH) have shown strong signs of accumulating more of the digital asset, creating a notable shift in the market. This increase in long-term holder accumulation, which has been consistent since late February 2025, is accompanied by a growth in the ratio of Bitcoin held by long-term vs. short-term holders. With this trend gaining momentum, analysts are closely watching the impact it may have on Bitcoin’s market dynamics moving forward.
According to Glassnode, Since February 23, 2025, Bitcoin’s long-term holders have been steadily accumulating the asset, with the rate of accumulation now nearing 6%. This marks a significant shift from earlier trends, where accumulation rates were less pronounced. More interestingly, the accumulation rate has shown a consistent increase, averaging around 7% daily since late February.
This surge in accumulation has come at a time when Bitcoin’s price is showing steady growth. The increased interest from long-term holders suggests confidence in the asset’s potential for long-term value retention, particularly as macroeconomic factors and the overall cryptocurrency market continue to evolve.
Long-Term vs. Short-Term Holders Outlook
A key indicator of this market shift is the growing supply ratio between Bitcoin held by long-term holders versus short-term holders. The ratio, which currently stands at 3.53, reflects a market where long-term holders now control a significantly higher proportion of Bitcoin’s supply compared to short-term traders. This ratio hit its lowest point on February 6, but since March 14, it has experienced a sharp increase.
The rate of change in the long-term vs. short-term holder supply ratio is growing at an average of 0.42% daily, compounded. If this trend continues at its current pace, it is expected that the ratio will reach its previous peak of 5.53 by July 9, 2025—just over 100 days from now. This projection is based on the current acceleration, which suggests that long-term holders are continuing to increase their dominance over Bitcoin’s supply at a rapid pace.
Bitcoin’s recent price increase has likely played a part in fueling this change in holder dynamics. As more investors become confident in the asset’s future, long-term holders are accumulating more, and short-term traders are gradually moving away from the market. This could be indicative of a broader trend where Bitcoin is shifting from being a speculative asset for traders to a more stable store of value for long-term investors.
As the long-term vs. short-term holder ratio continues to grow, Bitcoin’s market landscape is likely to shift. This shift could have profound implications for its price trajectory in the coming months, particularly if the current trends hold steady. A continued rise in long-term holder accumulation, coupled with a growing ratio of Bitcoin held by long-term holders, could see Bitcoin enter a phase of relative stability, potentially paving the way for another bull run in the latter half of 2025.
