Four Bitcoin Long-Term Holder Metrics Hit Record Highs on Same Day
Long-term holder activity is an important gauge of supply dynamics in cryptocurrency markets. When long-term investors lock up large amounts of Bitcoin, liquid supply contracts significantly, often establishing a solid price floor. But supply constraints alone cannot sustain a rally without sufficient demand, making the interplay between supply and demand crucial to determining the start of the next bull market.
According to a Galaxy Digital report, the firm's head of research said on July 13, 2026, that Bitcoin supply held by long-term holders had reached 16.75 million coins, while realized market capitalization had risen to $836.4 billion and realized price had topped $50,000, all record highs. Despite the unprecedented scale of accumulation, demand indicators such as the Coinbase premium and ETF fund flows remain weak, meaning stronger near-term buying is still needed to drive prices higher.
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The history behind this eventBitcoin Long-Term Holders Step Up Accumulation as Miner Selling Hits 2024 Low
Bitcoin “accumulation addresses” are generally wallets that keep buying and rarely sell, making them a gauge of long-term investor demand. Miners, meanwhile, are a steady source of market supply. CryptoQuant’s on-chain data show stronger accumulation alongside easing miner sales, an important signal for assessing Bitcoin’s supply-demand dynamics in 2024.
As of the week covered by the report, Bitcoin accumulation addresses recorded net inflows of more than 67,000 BTC over seven days, while long-term holder demand rose 48.5%. The wallets had absorbed about 4.37 million BTC in total. CryptoQuant’s Miners’ Position Index (MPI) also fell to its lowest level of 2024, indicating that selling pressure from miners had eased significantly.
Bitcoin Holdings by Long-Term Buyers Surge 300% to 4 Million BTC, Tightening Liquid Supply
Bitcoin’s supply is capped at 21 million coins, and continued accumulation by long-term holders reduces the amount available for trading on exchanges. Stockpiling strategies led by major institutions such as MicroStrategy have therefore become an important gauge of market liquidity and potential supply-demand imbalances.
Since the end of 2025, the cohort known as “conviction buyers” has expanded by 300% and now holds about 4 million BTC, nearly 20% of Bitcoin’s maximum supply. About 70% of recent entrants have unrealized gains. Analysts warned that if demand accelerates, declining liquid supply on exchanges could amplify price swings and trigger a supply shock.
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