Analyst: Bitcoin supply held for over 1 year increased by 217,000 this month, long-term holders are still accumulating

ChainCatcher reports that CryptoQuant analyst Darkfost stated that since last December, the supply of Bitcoin held for over 1 year has continued to increase, with the recent monthly average reaching +217,000 coins. This indicates that many holders who bought at higher prices are still holding on.

However, he pointed out that while this has built a solid foundation for the market, it also reflects weak current demand—during strong bullish rallies, the supply held for over 1 year is always negative, as short-term holders enter the bull market while long-term holders take profits. The analyst believes Bitcoin is building the necessary foundation for a healthy bullish recovery, but this will take time. Rebuilding genuine demand is a long-term process; patience is currently needed, but the overall trend remains positive.