K33: Long-term holders now hold a record 79% of Bitcoin’s circulating supply, potentially signaling the end of the bear market

CoinFeed, June 17 – According to The Block, research firm K33 noted in a market report that Bitcoin rebounded after two consecutive weeks of double-digit declines, with the amount held by long-term holders reaching an all-time high, potentially signaling that the bear market is nearing its end. A notable feature of the 2024–2025 cycle is the reactivation of a large amount of old Bitcoin, which may be sold as prices hit new all-time highs. In 2026, however, the reactivation of Bitcoin aged two years or more is unusually low, with only 218,421 BTC reactivated as of June 6, indicating a significant reduction in on-chain selling pressure. Research head Vetle Lunde stated that the decline in old coin activity suggests a reduced willingness to sell among long-term holders, with patient participants steadily absorbing supply, further indicating that the bear market may be coming to an end.