Glassnode data shows long-term Bitcoin holders resumed net accumulation after months of distribution, signaling renewed demand.
Long-term Bitcoin holders have reversed course, shifting from net distribution to net accumulation for the first time in months. The change, tracked by Glassnode, reflects wallets holding BTC for at least 155 days, now adding to positions after a prolonged sell-off period.
The net position change indicator turned positive, with accumulation estimated between 50,000 and 100,000 BTC. This marks a behavioral shift, though the pace remains slower than during previous bull market phases. Smaller and mid-sized wallets are driving the trend, while large whale wallets remain largely neutral.
The move contrasts with bearish sentiment following Bitcoin’s 20% drop in June, suggesting underlying demand despite recent price weakness.