What it is
Long-term holder supply tracks the aggregate amount of Bitcoin or other cryptocurrencies held by investors who have demonstrated a strong conviction by not selling their assets for a significant duration, usually defined as more than 155 days. This metric is based on the age of unspent transaction outputs (UTXOs) on the blockchain. A rising long-term holder supply indicates accumulation and a potential reduction in selling pressure, as these holders are less likely to sell.
This metric is a key indicator in on-chain analysis, often signaling market phases. When long-term holder supply increases, it suggests strong hands are accumulating, which can precede price rallies. Conversely, a decline can indicate profit-taking or capitulation, potentially signaling market tops or bottoms. Retail investors monitor this metric to gauge overall market sentiment and identify periods of accumulation or distribution by experienced investors.
Why it matters
Understanding this metric helps gauge market conviction and potential supply constraints, informing your investment strategy.
Reviewed under editorial standardsUpdated September 26, 2026Not investment advice