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Bitcoin’s long-term holders have resumed accumulation in what is a notable shift in investor sentiment despite the turbulence that has gripped the market in recent weeks. Particularly, data from on-chain analytics platform Glassnode shows that the “BTC: Long-term holder net position change” metric has flipped positive for the first time this year. This suggests that long-term Bitcoin investors are capitalizing on market conditions to add significant amounts of BTC to their holdings.
Long-Term Holders Add 167,000 BTC Amid March Crash
Earlier this month, Bitcoin’s price plunged from above $90,000 to around $80,000 during a rapid sell-off. This price stunned many traders and triggered a continuous wave of liquidations among short-term investors. Yet despite this steep correction, long-term holders treated the sub-$90,000 levels as a buying opportunity rather than a reason to capitulate.
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In other words, coins are moving into wallets that haven’t spent their BTC in a long time, which is a notable reversal after starting 2025 with a negative net position change. This marks the first net accumulation by these “HODLers” in 2025. Glassnode’s Long-Term Holder Net Position Change metric, which had been in the red, flipped “green” as long-term investors aggressively accumulated through the downturn.
On-chain data shows that this flip to green has seen long-term holders increase their net Bitcoin holdings by more than 167,000 BTC in the past month. This notable influx is valued at nearly $14 billion. In short, the cohort of seasoned holders began scooping up cheap BTC while short-term sentiment was at its bleakest.
Is A Bitcoin Price Recovery Brewing?
The timing of this flip from red selloff to green accumulation among long-term holders is striking, considering what the Bitcoin price went through in the past two weeks. This data suggests that a large part of the Bitcoin crash was caused by panic-selling among short-term holders. This behavior aligns with past market cycles between August and September 2024, where long-term holders accumulated aggressively during a price dip.
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Interestingly, Glassnode’s long-term holder metric isn’t the only one pointing to positive Bitcoin sentiment among large holders. After weeks of uncertainty, Bitcoin exchange-traded funds (ETFs) have started seeing net inflows again. On March 17, spot Bitcoin ETFs collectively drew in about $274.6 million, the largest single-day inflow in 28 days and a clear signal of renewed investor interest.
The very next day brought another wave of fresh capital, with roughly $209 million pouring into Bitcoin funds on March 18. In fact, this three-day streak represents the first sustained run of positive inflows since February 18, a period during which Bitcoin funds have experienced consecutive days of outflows.
At the time of writing, Bitcoin is trading at $83,500.
Featured image from Unsplash, chart from Tradingview.com
