Bitcoin’s long-term holders, or LTHs, seem increasingly confident in the asset—accumulation trends since February 25, 2023, show steady if not growing confidence. LTHs are adding to their positions, with the 30-day accumulation rate near 6%—a noticeable shift in what seems like a now-getting-clearer picture of sentiment. And what’s even more interesting about the current state of Bitcoin’s LTHs is that their daily accumulation rate seems almost robust. Since February, the daily accumulation pace has been averaging around 7%. For long-term holders, this signals something almost like an insatiable appetite for Bitcoin. #Bitcoin Long-Term Holders have been in steady accumulation since Feb 23. The 30D accumulation rate is now near 6% – and the rate of this change is growing as well. Since late February, it has exhibited a daily increase averaging ~7%. pic.twitter.com/eeRD4FEFUC — glassnode (@glassnode) March 24, 2025 At the same time, the proportion of Bitcoin supply in the hands of long-term holders versus short-term holders is undergoing a sizable shift. This measure, which not long ago hit a trough in early February, has been climbing steadily since then. As of March 14, it’s been ascending even faster, at a compounded 0.42% per day on average. If those holds keep holding, this ratio is on pace to touch its 2025 target of 5.53 once again. That would be a nice rebound from its current level of 3.53 and continue to highlight what a long-term tuned-in audience Bitcoin now has. U.S. Spot Bitcoin ETFs See Significant Inflows The increased interest in Bitcoin is not just from individual investors, as increased optimism extends to institutional investors as well. U.S. spot Bitcoin exchange-traded funds (ETFs) have experienced net inflows of a not-so-subtle amount over the past week. For context, on March 24, Bitcoin ETFs saw a net inflow of $84.17 million, which represented the seventh consecutive day of actual inflows. And what these flows are saying at an asset level is that there is an increasing confidence in Bitcoin as an asset class, with institutional investors leading the way. On March 24, U.S. spot Bitcoin ETFs recorded a net inflow of $84.17 million, marking seven consecutive days of net inflows. The ETF with the largest single-day net inflow was Fidelity's Bitcoin ETF (FBTC), which saw an inflow of $82.85 million on the day. https://t.co/Hj2Gs49bWa — Wu Blockchain (@WuBlockchain) March 25, 2025 The most substantial net inflow received in a single day came from Fidelity’s Bitcoin ETF (FBTC), which pulled in $82.85 million just on March 24. Fidelity has established a well-deserved reputation for being a significant institutional player in the adoption of Bitcoin. It is hard to imagine how we could fare better with an ETF on Bitcoin than with one from a company such as Fidelity, which oversees an ETF on Bitcoin that is not attracting much interest. The sequence of reassuring inflows indicates that Bitcoin is being warmly welcomed and not just tentatively embraced by the new category of institutional investor. We seem to be partaking of a Bitcoin oasis here, with no mirage in sight, unlike what we saw, for example, in early 2018 when we came off a similarly optimistic spell. Longer-term holders, presumably the same kind of people or organizations who were holding in 2018, are still holding; in fact, they’re accumulating in their currently unreported vaults. The only reported accumulators appear to be the new cohort of ETF buyers. Growing Confidence Among Bitcoin’s Long-Term Holders Data regarding Bitcoin’s long-term holders reflect a much larger trend in the market. This trend shows that long-term holders are not only sticking around but also seem to be in accumulation mode. The long-term holders of Bitcoin—those who purchase it with a multiyear time horizon—have been largely unfazed by the price ups and downs that affect the much-hated short-term market. Maybe the long-term holders know something we don’t. Bitcoin’s holders of long duration have been steadily adding to their positions since February 23, and this signals that they are not being swayed by short-term volatility. Accumulation for them is, of course, not just a matter of increasing the quantity of Bitcoin that they hold; it is also a sign of confidence in the notion that this asset has a long-term path of appreciation ahead. In terms of the current market dynamics, these long-term holders see this moment in time as an opportunity to add to their holdings at price points that are comparatively lower than the peaks endured in that ill-fated year of 2021. The metric of long-term holder accumulation is very important to watch. It is very telling of the current market sentiment. When accumulation is flat or decreasing, it shows that the holders are not confident enough in the current market to continue buying. Conversely, when accumulation is happening at a nice rate (like it is right now), it shows that there is a decent amount of confidence in the market. What’s more is that now, at this very moment, we have the accumulation rate increasing at about 7% per day. That is quite significant. Implications for the Bitcoin Market Examining the larger Bitcoin market, what seems to be emerging is a clear overall optimism. The picture painted by Bitcoin’s long-term holders and by the recent inflows of institutional capital is one of a Bitcoin that continues to be very much in demand. HODLing, as we all know, has historically been a stabilizing—and even price-supporting—force in the Bitcoin market. Meanwhile, the latest influx of capital via Bitcoin ETFs is another vote of confidence in Bitcoin as a meaningful part of the modern investor’s toolkit. As the long-term holder accumulation rate rises and institutional interest grows, Bitcoin’s market dynamics may well be shifting in favor of these holders. If this trend continues, the long-term holder accumulation rate could very well be playing a role, perhaps a more significant role than heretofore assigned, in the reduction of Bitcoin price volatility, in the provision of Bitcoin price support in downturn markets. The increase in spot Bitcoin ETF inflows suggests that substantial institutions see Bitcoin as more than just a speculative asset. They view it, in at least some dimensions, as a store of value—”like digital gold,” some have said. This only reinforces the idea that Bitcoin is now firmly a part of the traditional financial landscape. Considering these factors, the future of Bitcoin looks bright, and the present-day accumulation by a diverse group of long-term holders, including a number of institutions, serves as a not-so-subtle signal to the rest of the market that a more favorable environment for Bitcoin might be on the horizon. If this environment continues to develop, Bitcoin could be set up for some significant price appreciations. To conclude, the mounting rate of accumulation by long-term Bitcoin holders, together with the consistent inflows into U.S. spot Bitcoin ETFs, shows that both institutional and retail investors are remaining positive on the digital asset. The combination of these two groups continuing to invest in Bitcoin—plus the accelerating pace of this accumulation—undoubtedly sets up an increasingly bullish chart for the cryptocurrency. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
