Bitcoin (BTC) long-term holder supply has surged to approximately 15.26 million BTC, marking the highest level since August 2025. According to CryptoQuant analyst Darkfost, these long-term holder wallets have absorbed around 316,000 BTC over the past month. This accumulation stands in stark contrast to the sharp sell-off experienced in late November when long-term holders shed about 650,000 BTC over a 30-day span. The recent uptick indicates a renewed commitment among investors who began acquiring BTC near the cycle’s peak six months ago.
Darkfost noted that the increasing supply held by long-term holders, who are generally viewed as more stable than short-term holders, suggests a strong willingness to retain investments despite market fluctuations. In addition to this trend, Darkfost pointed out an upcoming significant event for late May. Approximately 800,000 BTC transferred from Coinbase will surpass the six-month threshold on May 23, officially entering the long-term holder category. This aging effect could further influence on-chain supply metrics later this month.
As Bitcoin trades at around $78,047—a slight decrease of 0.17% within the last 24 hours—market dynamics reveal noteworthy fluctuations in exchange flows. The research firm Coin Bureau highlighted that the disparity between exchange inflows and outflows has stabilized for six consecutive sessions. Analysts suggest that the combination of stable flows, declining reserves, and whale accumulation are classic indicators of a potential major bottom for Bitcoin, aligning with patterns observed since 2019.
The markets are now closely watching for the Federal Open Market Committee (FOMC) minutes set to be released on May 20, stemming from the last meeting chaired by Jerome Powell. This release is anticipated to significantly influence risk appetite as summer approaches. Analysts from Yardeni Research predict that the FOMC will likely signal a tightening bias in the upcoming June meeting, with expectations of a 25 basis points hike in July. During the last committee meeting, the target range was held at 3.50% to 3.75%, marking the third consecutive pause in rates, although it was accompanied by dissent among officials—the largest split since 1992. Noteworthy opposition came from Governor Stephen Miran, who advocated for a quarter-point cut, while Presidents Lorie Logan, Neel Kashkari, and Beth Hammack opposed the committee’s easing stance.
As the crypto market and broader economic indicators shift, investors will be keenly observing how these developments play out in the coming weeks.
