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Bitcoin is currently trading above $107,000 following a recent peak that saw the asset touch a new all-time high above $111,000. Although this marks a 3.9% drop from its highest level, the broader monthly trend remains positive, with BTC still recording a gain of over 10% in the last 30 days.
The market, however, has shifted its attention from price movement to on-chain dynamics, particularly the behavior of new and long-term holders.
Bitcoin Long-Term Holders Selling, New Entrants Still Cautious
On-chain analyst Avocado Onchain, writing on CryptoQuant’s QuickTake platform, examined Unspent Transaction Output (UTXO) data to assess investor trends during this stage of the cycle.
In a post titled “UTXO Age Band Analysis: Sluggish Inflow of New Investors May Limit Bitcoin’s Upside,” he explored whether BTC’s continued rally can be sustained without fresh capital inflows from newer market participants.
His findings suggest that while older coins are being sold, the inflow of newer investors remains low, a factor that has historically limited momentum in previous cycles.
The UTXO age distribution reveals that a significant portion of the BTC supply remains with holders who have kept their assets for over six months. The 6–12 month age band has increased, suggesting a large share of market participants still fall into the mid- to long-term holding category.
Historically, when the proportion of these holders started to shrink, it often preceded major tops in Bitcoin’s price cycle, driven by a transition of coins from long-term to new investors.
However, despite Bitcoin reaching new highs, the percentage of UTXOs held by investors with a holding period of less than one month remains well below the historical threshold seen near previous market tops.
During earlier bull cycles, new investor participation often surged past 50%. Currently, that figure sits around 20%, even lower than the peak levels during this recent rally. Avocado Onchain warns that without a notable increase in participation from newer investors, the market may struggle to maintain upward momentum.
Large Holders Accumulate as Retail Stays on Sidelines
While retail inflows appear to be lacking, large-scale accumulation is continuing in the background. A recent update from CryptoQuant on X highlighted that Bitcoin addresses holding between 1,000 and 10,000 BTC, excluding exchanges and miners, have been steadily increasing.
Large holders are accumulating.
Addresses holding 1K–10K BTC (excl. exchanges & miners) are rising, a sign of growing investor confidence.
Historically linked to higher prices. pic.twitter.com/vCCml3GfHB
— CryptoQuant.com (@cryptoquant_com) May 29, 2025
These entities are often associated with institutional investors or long-term strategic holders, and their accumulation is often interpreted as a signal of growing confidence in BTC’s long-term prospects.
Although retail remains largely inactive, institutional behavior may serve as a foundation for price support. The current dynamics reflect a market in a transitional phase, with potential for upside if broader participation begins to increase.
Featured image created with DALL-E, Chart from TradingView
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
