Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnAISquareMore
Bitcoin Register Record 15.8M Long-Term Holders Amid Price Decline - Here's Why

Bitcoin Register Record 15.8M Long-Term Holders Amid Price Decline - Here's Why

NewsbtcNewsbtc2026/05/31 12:27
By:Newsbtc

Prominent crypto analysis page XWIN Research Japan reports that Bitcoin has reached a new milestone: 15.8 million long-term holders. Interestingly, this record has come amid a bearish period for the leading cryptocurrency, whose value has dropped by 9% since May 6, when prices first peaked around $82,000.

In a QuickTake post on May 30, XWIN analysts dissect this structural anomaly, noting that a surge in long-term holders (LTH) is typically interpreted as a major bullish signal. For context, Bitcoin long-term holders refer to investors/addresses that have held Bitcoin for over 155 days. These investors are generally non-reactive, and their behavior is often seen as a reflection of long-term market conviction.

Bitcoin LTH Surge Points To Demand Shortage

An increase in long-term holders suggests a market dominated by investors with less intention to sell but holding in expectation of future price appreciation. This creates a robust market structure that proves resilient during reactive exits by short-term holders (STH).  However, XWIN Research Japan notes that healthy bull markets are generally driven by market demand, i.e., new entrants or other market participants buying off coins from the long-term holders.

var rnd = window.rnd || Math.floor(Math.random()*10e6); var pid607465 = window.pid607465 || rnd; var plc607465 = window.plc607465 || 0; var abkw = window.abkw || ''; var absrc = 'https://servedbyadbutler.com/adserve/;ID=172179;size=0x0;setID=607465;type=js;sw='+screen.width+';sh='+screen.height+';spr='+window.devicePixelRatio+';kw='+abkw+';pid='+pid607465+';place='+(plc607465++)+';rnd='+rnd+';click=CLICK_MACRO_PLACEHOLDER'; document.write('
');
if (!window.AdButler){(function(){var s = document.createElement("script"); s.async = true; s.type = "text/javascript";s.src = "https://servedbyadbutler.com/app.js";var n = document.getElementsByTagName("script")[0]; n.parentNode.insertBefore(s, n);}());}
var AdButler = AdButler || {}; AdButler.ads = AdButler.ads || []; var abkw = window.abkw || ""; var plc366606 = window.plc366606 || 0; (function(){ var divs = document.querySelectorAll(".plc366606:not([id])"); var div = divs[divs.length-1]; div.id = "placement_366606_"+plc366606; AdButler.ads.push({handler: function(opt){ AdButler.register(172179, 366606, [728,90], "placement_366606_"+opt.place, opt); }, opt: { place: plc366606++, keywords: abkw, domain: "servedbyadbutler.com", click:"CLICK_MACRO_PLACEHOLDER" }}); })();

Therefore, the increase in LTH, while bullish for market conviction, could also indicate insufficient demand to drive a price rally; hence, the price losses in recent weeks.

Bitcoin Register Record 15.8M Long-Term Holders Amid Price Decline - Here's Why image 1 Source: CryptoQuant

XWIN Research Japan shares data that backs this decline in Bitcoin demand across investor cohorts. For example, the growth of whale investors who hold 1,000-10,000 BTC has stalled and is now heading towards a YoY decline. Meanwhile, the rise in dolphins, i.e., addresses holding 100-1,000 BTC, largely comprising institutional investors and ETF issuers, has also declined since early 2025.

Despite a show of confidence from existing investors, XWIN analysts explain that the broader signal is that Bitcoin currently faces a demand shortfall rather than selling pressure, suggesting the market may remain in a demand-recovery phase until institutional flows, whale accumulation, and network participation pick up again.

var rnd = window.rnd || Math.floor(Math.random()*10e6); var pid607472 = window.pid607472 || rnd; var plc607472 = window.plc607472 || 0; var abkw = window.abkw || ''; var absrc = 'https://servedbyadbutler.com/adserve/;ID=172179;size=0x0;setID=607472;type=js;sw='+screen.width+';sh='+screen.height+';spr='+window.devicePixelRatio+';kw='+abkw+';pid='+pid607472+';place='+(plc607472++)+';rnd='+rnd+';click=CLICK_MACRO_PLACEHOLDER'; document.write('
');
if (!window.AdButler){(function(){var s = document.createElement("script"); s.async = true; s.type = "text/javascript";s.src = "https://servedbyadbutler.com/app.js";var n = document.getElementsByTagName("script")[0]; n.parentNode.insertBefore(s, n);}());}
var AdButler = AdButler || {}; AdButler.ads = AdButler.ads || []; var abkw = window.abkw || ""; var plc452518 = window.plc452518 || 0; (function(){ var divs = document.querySelectorAll(".plc452518:not([id])"); var div = divs[divs.length-1]; div.id = "placement_452518_"+plc452518; AdButler.ads.push({handler: function(opt){ AdButler.register(172179, 452518, [728,90], "placement_452518_"+opt.place, opt); }, opt: { place: plc452518++, keywords: abkw, domain: "servedbyadbutler.com", click:"CLICK_MACRO_PLACEHOLDER" }}); })();

Bitcoin Market Overview

At the time of writing, Bitcoin is trading near $74,000, reflecting stable price action over the last 24 hours. Over larger time frames, the leading cryptocurrency is down 3.45% and 3.95% on the weekly and monthly charts, respectively.

Analysts expect Bitcoin to close June around $71,102. During the month, the asset is projected to reach a peak of approximately $84,961, while the lowest price is estimated at about $57,774.

BTC trading at $74,164 on the daily chart | Source:
0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Morgan Stanley declares that physical AI and space will become the “new electricity” of the economy! Increases holdings of SpaceX (SPCX.US), target price $300

Morgan Stanley has released a research report on physical AI, space, and SpaceX (SPCX.US), stating that robotics and the space industry will reshape the global economic landscape, with their impact comparable to that of electricity in modern economies.

智通财经2026/09/15 06:56
Morgan Stanley declares that physical AI and space will become the “new electricity” of the economy! Increases holdings of SpaceX (SPCX.US), target price $300

ECB Vice President sounds the "bubble alarm": AI asset valuations are "very high," stock markets are prone to corrections

European Central Bank Vice President Vujičić warns: Asset rallies driven by artificial intelligence are prone to correction risks.

智通财经2026/09/15 06:56
ECB Vice President sounds the "bubble alarm": AI asset valuations are "very high," stock markets are prone to corrections

Broadcom (AVGO.US) CEO Responds to "AI Brakes" Theory: AI Semiconductor Revenue Target Remains Unchanged, Aiming for $230 Billion by 2028

Chen Fuyang recently addressed concerns during an interview about the potential impact of slowing frontier AI model development on the chip manufacturer's business, emphasizing that the company remains committed to its long-term revenue targets.

智通财经2026/09/15 06:56
Broadcom (AVGO.US) CEO Responds to "AI Brakes" Theory: AI Semiconductor Revenue Target Remains Unchanged, Aiming for $230 Billion by 2028

10-year U.S. Treasury yield breaks above 5% to nearly a 20-year high, Fed's anti-inflation credibility faces major test

The yield on the US 10-year Treasury has risen to its highest level in nearly 20 years, marking the latest milestone in the global bond sell-off.

智通财经2026/09/15 06:46
10-year U.S. Treasury yield breaks above 5% to nearly a 20-year high, Fed's anti-inflation credibility faces major test