Bitcoin long-term holders return to accumulation as BTC reclaims $60K

Bitcoin long-term holders have returned to accumulation, a shift that suggests renewed confidence among seasoned investors as the cryptocurrency recovers above $60,000.

According to Glassnode's on-chain data, the long-term holder net position change has flipped positive after an extended period of distribution. This metric tracks the 30-day net change in supply held by wallets that have held coins for at least 155 days, qualifying them as long-term holders. The shift indicates that these investors are now adding to their positions rather than selling, a bullish signal for the market.

For cryptocurrency traders, this accumulation trend is a key indicator of market sentiment. Long-term holders are often seen as the most resilient cohort, and their buying behavior can provide a floor under prices. The move comes after Bitcoin's price dropped to 21-month lows earlier this week, only to rebound sharply. Live crypto prices and charts on NowPrice show BTC trading around $60,444, reflecting the market's reaction to the on-chain data. The return to accumulation suggests that the recent sell-off may have been overdone, with smart money viewing lower prices as a buying opportunity.

Looking ahead, traders will watch whether this accumulation trend continues in the coming weeks. If long-term holders maintain their buying pressure, it could support further upside for Bitcoin. However, the broader macro environment, including U.S. interest rate expectations and regulatory developments, will also play a role. Key levels to monitor include the $58,000 support and the $65,000 resistance zone, which could determine the next directional move.