Long-term holder (LTH) supply — addresses holding BTC ≥155 days — climbed to 16.3 million BTC, up from ~14.12M around October's record high and roughly +200k BTC in the past month. The only higher reading was 16.4M in January 2024 before nearly 2M BTC was distributed by LTHs during the subsequent rally. LTH supply had mostly ranged between 14–16M since the U.S. spot ETF launch but now appears to have broken a 2.5-year downtrend, signaling renewed accumulation by long-term holders amid current depressed prices.

LTH supply rose to 16.3M BTC (from ~14.12M in October) with ~+200k BTC added in the past month, and is near the only higher January 2024 reading of 16.4M — a level that preceded ~2M BTC distribution by LTHs. The break of a 2.5-year downtrend and recent accumulation are factual bullish indicators, but the prior January distribution tempers the immediate market-moving implication for short-term traders.