Bitcoin's price dipped below $75,000 over the weekend but has since recovered to around $77,000. However, a surge in long-term holder (LTH) supply may be misleading.
According to pseudonymous analyst Darkfost, LTH supply jumped from 15 million to 15.8 million BTC over two days. This increase is tied to Coinbase moving roughly 800,000 BTC in November 2025, which distorted on-chain metrics.
Darkfost explained that the transfer destroyed old LTH UTXOs and created skewed datasets. Saturday marked six months since the move, transitioning the BTC from short-term to long-term holder supply.
Typically, rising LTH supply signals accumulation, but analysts urge caution as this data doesn't reflect true investor demand.
Looking ahead, Bitcoin faces resistance near $80,000, where short-term holders' cost basis sits. A sustained break above this level is needed for continued recovery.
As of writing, BTC trades at $76,490, up 1% in 24 hours.
