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BTC TL;DR
Long-term Bitcoin holders accumulated a record 1.29 million BTC in 30 days.
This is the strongest cumulative data in more than six years.
Glassnode data shows that long-term holders have regained significant real profits, a pattern that historically bodes well for strong upturns.
Bitcoin has rebounded by about 15%, approaching the realization price of short-term holders of $68,000, a key level that could determine the next short-term trend.
Long-term Bitcoin holders are accumulating at a record rate, and on-chain data sends bullish signals
Long-term Bitcoin investors are accumulating bitcoins at the fastest rate in more than six years. At the same time, another closely watched on-chain indicator shows that these holders have returned to significant levels of unrealized profits. This combination has heralded significant increases in cryptocurrency prices many times in history.
Data from CryptoQuant shows that as of the end of May, the 30-day long-term holder (LTH) net position change in Bitcoin has soared to approximately 1.29 million BTC. This is the strongest cumulative reading since the indicator began tracking this group, surpassing previous peaks set during the 2017 bull market.
Meanwhile, Glassnode's data suggests that long-term holders have returned to healthy real earnings after Bitcoin's recent rebound, echoing previous patterns before market expansion.
Taken together, these indicators suggest that despite recent price weakness, experienced investors are continuing to build positions, reinforcing the view that the beliefs of Bitcoin's strongest holders remain solid.
Long-term investors are accumulating at a record rate
According to CryptoQuant data, changes in LTH net positions measure the increase and decrease in the amount of BTC held by investors who have held Bitcoin for a longer period of time during a 30-day rolling window.
The latest data shows that long-term holders have accumulated approximately 1.29 million BTC in 30 days, exceeding all accumulation stages since 2021 and exceeding the record level in the 2017 cycle. 
It is worth noting that this record purchase occurred at a time when Bitcoin prices were well below recent highs, suggesting that experienced investors view the pullback as an opportunity to increase exposure rather than reduce risk.
Historically, aggressive accumulation by long-term holders has often coincided with periods when speculative demand waned but institutions and highly convinced investors quietly increased positions.
Improved profitability for long-term Bitcoin holders
More on-chain data from Glassnode strengthens this trend. The data tracks the actual profit and loss of long-term holders sending bitcoins to exchanges through a 30-day moving average. The latest soaring data shows that this group has regained considerable profits as Bitcoin rebounds from recent lows.
Similar patterns have emerged in previous cycles. Several major gains were preceded by significant increases in real profitability for long-term holders, including the bull market period of 2020-2021 and earlier expansion periods. 
Although holders of profits can choose to cash in on gains, the current environment is different because accumulation is simultaneously accelerating rather than weakening. This combination shows that despite short-term market volatility, many long-term investors remain confident in Bitcoin's long-term prospects.
While both indicators point to improving market conditions, analysts warn that no single indicator on the chain can guarantee the start of a new bull market.
The accumulation of long-term holders has historically been one of the most reliable indicators of Bitcoin investors 'belief, as these wallets are generally less sensitive to short-term price fluctuations than newer market participants.
