Reserve

United

Bitcoin

Billion

Glassnode <a href="https://studio.glassnode.com/metrics?a=BTC&amp;category=&amp;ema=0&amp;m=supply.LthNetChange&amp;mAvg=0&amp;mMedian=0&amp;s=1707904914&amp;u=1715677314&amp;zoom=90" rel="nofollow">data</a> has revealed that <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-long-term-holders-accumulating-like-in-2021-is-btc-ready-for-a-15x/">Bitcoin long-term holders</a> are taking advantage of the cryptocurrency’s lower price to significantly increase their holdings. This accumulation further strengthens the belief that this group of Bitcoin investors anticipate a <a href="https://www.newsbtc.com/news/bitcoin/cpi-preview-bitcoin-price-poised-to-surge/">potential upside</a> for Bitcoin despite its recent volatility.&nbsp; 
<h2 id="long-term-holders-pay-4-3-billion-for-70-000-btc">Long-Term Holders Pay $4.3 Billion For 70,000 BTC</h2> 
According to <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-long-term-holders-price-top-glassnode/">Glassnode</a>, long-term Bitcoin holders who had previously <a href="https://x.com/cryptovipsignal/status/1790383038263701640?s=46" rel="nofollow">sold</a> 1 billion BTC in the latter part of 2023 are accumulating once again. This buying activity could be interpreted as a potential bullish signal for Bitcoin.&nbsp; 
Traditionally, Bitcoin long-term holders <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-long-term-700000-btc-selloff-reversal/">sell their holdings</a> during peak prices and buy new tokens during periods of correction or substantial declines. When these seasoned investors buy cryptocurrencies during market lows, it usually indicates their expectations of a potential rebound, <a href="https://www.newsbtc.com/bitcoin-news/hodling-rewards-bitcoin-long-term-holder-55-profit/">leading to profits.&nbsp;</a> 
On the other hand, <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-1-2-million-btc-spree/">short-term holders</a> are known to buy cryptocurrencies during sporadic price surges, often signaling that a cryptocurrency is nearing its peak.&nbsp; 
With Bitcoin presently stabilizing above $61,000, long-term Bitcoin holders probably see the cryptocurrency’s value as a <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-1-35-billion-btc/">prime buying opportunity</a>. They have recently added a staggering 70,000 BTC valued at over $4.3 billion to their holdings.&nbsp;&nbsp; 
<img loading="lazy" decoding="async" class=" wp-image-608137" src="https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot-2024-05-15-at-11.28.28.png?w=460&amp;resize=569%2C314" alt="Bitcoin holders" width="569" height="314" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot-2024-05-15-at-11.28.28.png?w=1552 1552w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot-2024-05-15-at-11.28.28.png?w=460&amp;resize=569%2C314 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot-2024-05-15-at-11.28.28.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot-2024-05-15-at-11.28.28.png?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot-2024-05-15-at-11.28.28.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot-2024-05-15-at-11.28.28.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/Screenshot-2024-05-15-at-11.28.28.png?w=1140 1140w" sizes="(max-width: 569px) 100vw, 569px" data-recalc-dims="1"> 
This sentiment for Bitcoin’s potential rally is also shared by a few crypto analysts who have <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-headed-to-90000/">predicted</a> that the cryptocurrency would surge to new all-time highs during the <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-bulls-roar-analysts-predict-surge-amid-bullish/">approaching bull market</a>. Earlier in March, before Bitcoin’s halving event, the cryptocurrency skyrocketed above $73,000, marking a new historic all-time high.&nbsp; 
With the bull market still on the way, Bitcoin could <a href="https://www.newsbtc.com/news/bitcoin/bullish-winds-blow-bitcoin-bull-flag-points-to-new-77000-ath-analyst/">see further upsides</a> as market conditions improve and investor demand rises. This could potentially lead to profits for long term holders who had purchased the cryptocurrency earlier.&nbsp; 
Moreover, the upcoming <a href="https://bitcoinist.com/bitcoin-surge-bottom-as-inflation-data-in-focus/" rel="nofollow">United States inflation report</a>, set for release on May 15, could also be another primary factor driving long-term investors’ substantial BTC accumulation. With the US Consumer Price Index (CPI) remaining historically <a href="https://www.bls.gov/schedule/news_release/cpi.htm" rel="nofollow">high</a>, and the <a href="https://bitcoinist.com/bitcoin-takes-a-hit-as-fed-puts-rate-cuts-on-hold/" rel="nofollow">Federal Reserve (FED) </a>unchanged rates, Bitcoin is seen as a possible hedge against inflationary pressures, protecting investors’ wealth against decline.&nbsp;&nbsp; 
<h2 id="bitcoin-whales-display-opposite-trend">Bitcoin Whales Display Opposite Trend</h2> 
Reports from blockchain analytics platform Santiment reveal that Bitcoin whales are showing an opposite trend from long-term holders.&nbsp; 
The analytics platform <a href="https://x.com/ali_charts/status/1790462837330157581?s=46" rel="nofollow">noted</a> that Bitcoin whales appear to be taking a break from accumulating BTC, as the number of large-scale transactions has been decreasing significantly.&nbsp; 
This trend coincides with the cryptocurrency’s reduced <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-on-chain-activity-nearing-historic-lows-what-this-means-for-btc-price/">on-chain activities</a> and its <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-dips-63500/">declining value</a> over the past few weeks. 
Crypto analyst Ali Martinez has also shared a similar report, emphasizing that Bitcoin’s accumulation trend score is currently displaying a value closer to zero, indicating that larger investors were distributing their holdings rather than buying.&nbsp; 
Despite the downtrend, Martinez has <a href="https://x.com/ali_charts/status/1790387389535281197?s=46" rel="nofollow">disclosed</a> that Bitcoin’s current TD sequential is signaling a <a href="https://www.newsbtc.com/news/bitcoin/buy-bitcoin-ethereum-bull-run/">buying opportunity</a> and the cryptocurrency was poised for a <a href="https://bitcoinist.com/bitcoin-price-left-danger-zone/" rel="nofollow">rebound soon</a>. At the time of writing, the cryptocurrency’s price is trading below $62,000, receiving a decrease of about 6.38% in the last month, according to CoinMarketCap.&nbsp; 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/hbB9QDiP/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1576">

Bitcoin Long-Term Holders Buy The Blood, Snatch Up 70,000 BTC

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