CoinAnk data shows that according to the latest on-chain data, Bitcoin long-term holders have achieved a record net increase of 800,000 BTC in the past 30 days, a scale far exceeding the historical average. Similar scales of monthly accumulation have only occurred six times before, including mid-2021 and late 2024, and were accompanied by significant subsequent price uptrends. Currently, the cost range for long-term holders is concentrated between $95,000 and $107,000, while the average cost for short-term holders is about $93,000. At the same time, the proportion of long-term holders has risen to 68% of the total circulating supply, and early miner groups have shown a strong reluctance to sell, having sold only a minimal amount of BTC this year, highlighting the tightening situation on the market supply side.

This accumulation behavior reflects the firm confidence of long-term investors in BTC as a store of value asset. Historical patterns show that similar scales of accumulation often indicate turning points in price cycles, possibly stemming from an imbalance in market supply and demand and the strengthening of investor psychological expectations. The holding cost range can serve as a key support level; when prices approach this level, reduced selling pressure may help boost upward trends. In terms of the impact on the crypto market, especially BTC, the accumulation has reduced circulating supply, combined with the reluctance to sell, which may exacerbate scarcity and drive prices to break historical highs; however, if the macro environment deteriorates or the cost pressure on short-term holders increases, the market may experience volatility. Overall, the structure dominated by long-term holders helps stabilize the market and supports the continuation of a bull market.#美国5月核心PCE物价指数 $BTC