Analyst: Bitcoin Long-Term Holder Supply Nears Levels Seen at Historical Bottoms

CoinFeed, June 22 – CryptoQuant analyst Axel Adler Jr. noted that Bitcoin long-term holder (LTH) realized supply is gradually approaching levels seen during historical bottom formations, currently at 12.17 million BTC. It hit a cycle high of 12.42 million BTC in early June, more than doubling over the past year, indicating a shift of coins toward more resilient holders. However, current levels remain below those of previous bear market capitulation phases: the 2015 bottom was around 15 million BTC, 2018–2019 around 16 million BTC, and 2022–2023 around 19.7 million BTC. A stronger confirmation signal zone would be above 15 million BTC. Meanwhile, the stress indicator representing final capitulation selling has not triggered for 1,256 consecutive days, the longest streak on record, with the last occurrence in January 2023.