Analyst: Bitcoin long-term holders' supply is close to an all-time peak, and selling pressure remains low

Comparing news, CryptoQuant analyst Axel Adler Jr. According to the post, the Bitcoin long-term holder (LTH) supply is currently 16.35 million BTC, which is only 58,000 units below the historical peak of 16.41 million BTC set on July 30, and has increased by 1.38 million BTC over the past 90 days. Meanwhile, LTH supply declined for only 2 of the past 15 days, and the frequency of decline was close to the lowest level, indicating no significant selling pressure.

In terms of price, Bitcoin is currently around $64,200, and the LTH cost base is about $49,400, corresponding to 1.3 times. It has been in the lower risk zone between the LTH cost base and 1.5 times ($74,100) for 78 consecutive days. If it breaks above $74,100, it will enter the normal risk zone, and if it falls below $49,400, LTH as a whole will fall into loss. Analysts pointed out that the current supply structure is constructive, but it is not yet possible to separately confirm that demand is strong enough to drive a new round of growth.