Bitcoin’s next rally might be boring, but it’s definitely bullish!
LTHs take the wheel
LTH position change has soared past the 600,000 BTC mark for the first time since September 2024; an aggressive accumulation phase by investors with a long-term outlook. This move creates a sturdier market foundation.
Source: CryptoQuant
In contrast, STH activity has remained muted. These weaker hands — often prone to panic selling — are largely absent, further reducing downside volatility risk.
Are we entering Bitcoin’s next bullish leg?
With fewer coins sitting on exchanges and more in the hands of LTHs, the sell-side pressure appears limited. Institutional flows and ETF inflows remain steady in the background, adding further support.
While short-term volatility can’t be ruled out, the structural trends suggest that the path of least resistance is upward.
As accumulation continues and supply tightens, market conditions are aligning for a potentially extended bull cycle.