Share this article
Patterns Break as Both Short and Long Term Holder Cohorts Accumulate Bitcoin
The stack sizes of long term and short term holders typically move in opposite directions.
Updated Jul 9, 2025, 1:33 p.m. Published Jul 9, 2025, 1:08 p.m.
Make us preferred on Google
What to know:
- LTH supply has increased by 13,000 BTC since June 22, reaching an all-time high of 14,713,345 BTC.
- At the same time, STHs have grown their BTC holdings by over 60,000 BTC, now totaling more than 2.3 million BTC, signaling optimism across the board.
As bitcoin continues a now multi-week consolidation just below its all-time high of $112,000, an interesting accumulation phenomenon is occurring.
Both short-term and long-term holders have been increasing their stacks as distinct cohorts, which is unusual because these groups typically act in opposite directions, according to Glassnode data.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The chart below from Glassnode illustrates the 155-day threshold used to classify coins as belonging to Long-Term Holders (LTH) or Short-Term Holders (STH).
Since June 22, the LTH supply has increased by 13,000 BTC, returning to an all-time high of 14,713,345 BTC. Meanwhile, over the same period, STHs have grown their BTC supply by more than 60,000 BTC and now hold over 2.3 million BTC.
According to Glassnode data, LTH and STH cohorts usually diverge because LTHs often sell into bull market strength, while STHs tend to buy amid market greed and euphoria.
This alignment suggests that both groups of market participants are expecting higher prices. If both cohorts continue increasing their supply, there is a strong possibility that all-time highs will be surpassed.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bitcoin pulls back to as low as $81,000 as horrendous day continues
The world's largest cryptocurrency has shed nearly $10,000 over the past 24 hours, now threatening to take out its recent November low just under $81,000.
What to know:
- Bitcoin (BTC) continued to quickly decline in the U.S. evening hours on Thursday, the price falling all the way to $81,000.
- More than $777 million in leveraged crypto long positions were liquidated in the space of one hour.
- Comments from President Trump caused a surge in Polymarket betting odds on Kevin Warsh becoming the next Fed chair, perhaps disappointing some traders who hoped the more dovish Rick Rieder would be selected.
Top Stories
