According to ChainCatcher, citing CoinDesk, as Bitcoin's price rises above $90,000, long-term holders (holding ≥155 days) continue to buy, absorbing short-term sellers at a ratio of 1.38:1, with net accumulation of 635,340 BTC from January to date. Currently, long-term holders' total position is approximately 13.755 million BTC, accounting for about 65% of circulation. Short-term holders own around 3.51 million BTC, having sold about 460,000 in the past 155 days.
Bitcoin long-term holders' average cost is concentrated in the $65,000-$95,000 range, while short-term holders are generally taking profits or cutting losses, indicating market sentiment has not fully recovered. Although Bitcoin has retraced 30% from its January historical high of $109,000, long-term holders continue to accumulate at low levels, showing typical distribution characteristics at high prices. Currently, 2.6 million BTC are in a loss state, mainly from purchases above $95,000, forming a strong resistance level, and the market needs to watch whether the key psychological level of $95,000 can be effectively broken.
