Analysis: Long term Bitcoin holders' holdings have risen to near historical highs, breaking the downward trend of the past two and a half years On May 21st, according to CoinDesk, the holdings of long-term Bitcoin holders have continued to rise and have now increased to approximately 16.3 million BTC, approaching the highest level in history. The downward trend of the past two and a half years has been broken. Long term holders of Bitcoin are typically investors who have held the currency for more than 155 days. Since Bitcoin reached a historical high of approximately $126000 in October 2025, their holdings have increased from around 14.12 million BTC to current levels, with a separate increase of around 200000 BTC in the past month. In history, this indicator only approached a higher level (approximately 16.4 million BTC) in January 2024, just before the launch of the US Bitcoin spot ETF. Subsequently, as the market rose, long-term holders reduced their holdings of approximately 2 million BTC over several months. In a typical bear market or price correction phase, long-term holders typically re-enter the accumulation cycle, meaning that during periods of pressure on Bitcoin prices, "smart money" is flowing back into the market.