Bitcoin long-term holders turn to net buyers, add 33K BTC in 30 days

Bitcoin's long-term holders (LTHs) have shifted to a net accumulation phase for the first time since July, according to CoinDesk, citing on-chain analytics firm checkonchain. Addresses that have held BTC for at least 155 days have net-purchased approximately 33,000 BTC over the past 30 days. The firm noted that this cohort had been one of the largest selling groups in the market this year, offloading more than one million BTC as the cryptocurrency's price fell by around 36% since October. However, checkonchain also explained that since it takes about 155 days for a short-term holder to be reclassified as a long-term one, buying pressure from the last six months may now be offsetting the selling pressure.