Bitcoin’s price seemed to be set. another round of pain Over the weekend, after falling under the psychological level of $75,000 on Saturday morning. As of the writing, however, Bitcoin has recovered somewhat and was looking to get back up to $77,000. On the day in question, there was also an increase of long-term Bitcoin investors, but the signals might not have been as clear.
BTC’s LTH Data is Skewed
Darkfost, a pseudonymous expert on the X-platform recently posted a message. revealed The supply of Bitcoins held by Long-Term Holders (LTHs) increased over the course of the past couple days. This supposed increase in LTH activities might not have as much relevance to BTC growth as data normally would suggest.
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Darkfost revealed that, using data provided by CryptoQuant over the course of the past two weeks, the long-term supply for holders has increased from 15.8 to 15 million BTC. This metric was one of the many data points that were affected by Coinbase moving 800,000 BTC from November 2025.
On November 22nd-23rd, US-based cryptocurrency exchange, Coinbase, shuffled around 800,000 BTC between internal wallets (worth approximately $70 billion). Darkfost stated that this maintenance transfer was a destruction of old LTH UXOs, or unspent transactions outputs. It also created a new Bitcoin dataset with distorted data.
Crypto analyst writes on X
Datasets on multiple platforms incorporated the movement. These included metrics based upon UTXO, cohorts based in age or value, costs incurred by STH/LTH and realized values.
The Bitcoin transaction took place six months ago on Saturday the 23rd of May. BTC has now been fully transferred from short-term holders (STHs) to long-term holders.
A rise in LTH availability is usually accompanied by an increased demand and growing confidence amongst the most devoted. seasoned crypto investors. However, participants on the market may wish to use caution in making their decisions when using this “on-chain” signal. This is because it truly reflects an increase of investor demand.
What is Next for Bitcoin price?
Darkfost posted a different post to the X Platform. identified The next significant resistance level is the $80,000 mark. The analyst highlighted the STH costs basis and said this resistance is currently just below the $80,000 level.
Darkfost claims that the majority of short-term investors are opting to sell their Bitcoins rather than hold on for an eventual reversal. This is evident from the price resistance Bitcoin faces at its cost base. For the Bitcoin price to move forward, it needs to break the $80,000 mark.
BTC has risen 1% over the past 24 hour to $76,490.
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Featured Image from iStock and chart from TradingView
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Source: www.newsbtc.com
