This isn’t just “long-term holders are accumulating.”
What matters is the shift in behaviour under pressure.
When LTH supply turns positive, it means coins that could have been sold into strength weren’t.
That’s important.
Because LTHs don’t react to short-term moves. They distribute when liquidity is strong and hold when they expect higher prices ahead.
So a +308K BTC increase tells you one thing:
👉 Selling pressure at higher levels wasn’t convincing enough
What I find more interesting is the timing.
This kind of shift usually happens before price expansion, not during it.
Why?
Because once LTHs stop supplying coins to the market, available liquidity tightens.
And when demand shows up after that, price moves faster.
But there’s a second layer people miss:
If LTHs are holding, then who is selling?
Short-term holders.
That creates a split market:
* weak hands providing liquidity
* strong hands absorbing it
That structure doesn’t look explosive at first.
It looks slow, sometimes even weak.
But underneath, supply is getting locked.
So this isn’t just bullish.
It’s a setup where:
Less supply is available…
while demand hasn’t fully shown up yet.
And when those two meet, moves don’t build gradually they tend to accelerate.
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