Long-Term Holder Supply

Long-Term Holder Supply is used to track the total holdings of BTC with holding time > 155 days. Long-term holders are the backbone of the market, and their behavior patterns are often negatively correlated with market prices.

When the price rises, the group gradually reduces their positions and distributes high-priced chips

When the price falls, the group gradually increases their positions and collects low-priced chips

observation can find

1) When the price of BTC accelerates in a long-term upward trend, the indicator turns from a high level to a downward trend, indicating that the growth rate of new funds entering the market is sufficient, and long-term holders begin to accelerate the distribution of high-priced chips, corresponding to the main rising wave of the market.

2) This indicator can be used as an auxiliary indicator for judging the bottom range. Even if other indicators have been used to judge that the market is close to the bottom range, and with the sudden acceleration of the BTC price in the long-term downward trend, the indicator also falls rapidly accordingly, indicating that some long-term holders are The capitulation begins during a rapid price drop (need to exclude the case of the exchange sorting out the wallet), which often corresponds to the bottom range of the price.