Bitcoin Diamond Hands Set New Supply Record Of 14.8 Million BTC

On-chain data shows the Bitcoin long-term holder supply has reached an all-time high (ATH), a sign of rising HODLing conviction among investors.

There are a few different ways to track the behavior of these cohorts, with one such method being via the size of their wallet holdings. Below is the chart shared by Root that shows the trend in the supply of the Bitcoin LTHs over the history of the cryptocurrency.

Something to note is that while a decline in the LTH supply hints at selling in the present, the same isn’t true when it comes to a surge. By definition, the LTH group only includes tokens that have been held for a period longer than 155 days, so there is always a 155-day delay attached between when coins were bought and when they registered in the metric. In contrast, distribution instantly shows up as tokens see their age reset back to zero as soon as they are transacted.

As such, the recent uptrend in the Bitcoin LTH supply doesn’t reflect any accumulation that’s occurring right now, but rather a growing tendency among investors to HODL their tokens.

Bitcoin has seen its recovery hit the brakes as its price has taken a sideways movement around the $80,700 mark.