Record 16.8M BTC Held Long Term as Macro Risks Build

2 weeks ago 7

Key Takeaways

The increase suggests that more Bitcoin is being retained rather than returned to the liquid market.
Bitcoin still needs to reclaim key Fib level before the current rebound gains stronger confirmation.
Weakness in major technology stocks could eventually redirect some capital toward BTC, but no clear rotation is visible yet.

According to Bitbo data, long-term holder supply has reached 16.83 million BTC, the highest level recorded by the metric. These are coins that have remained unmoved for at least 155 days.

Bitcoin was trading near $65,400 at the time of writing, up approximately 1% on the daily candle. The move follows another rejection near $67,270, where the 0.236 Fibonacci retracement continues to block the recovery.

The record holder supply gives Bitcoin a tighter supply backdrop, but it does not prove that new demand has already arrived.