cryptd.in

另类 LinkedIn 适合加密人才

Bitcoin Recovery Still Looks Like A Bear Market Rally, Analyst Says

-

由

cryptd.in
于

A CryptoQuant analyst has explained how the recent Bitcoin recovery has still looked like a bear market rally based on signals in on-chain metrics.

Bitcoin Recovery Has Come Alongside A Rise In The LTH Supply

在新的 thread on X, CryptoQuant community analyst Maartunn has discussed the recent recovery run that Bitcoin has witnessed. This surge has arrived after BTC stabilized into a consolidation range following its low at the start of February.

On-chain data suggests that this bottoming process started alongside an uptick in the supply of the long-term holders (LTHs). The LTHs are defined as investors who have been holding onto their tokens since more than 155 days ago.

As the below chart shows, the 30-day change in the supply of this Bitcoin cohort was negative between mid-2025 and January 2026, indicating that the diamond hands of the network were distributing their coins.

Bitcoin LTH Supply Change

Since the end of January, however, the metric has flipped negative, a sign that coins have been becoming a part of the LTH supply. Note that this metric has a 155-day delay attached between when buying occurred and when it reflects on the data since coins first have to be held for 155 days before they can be classified into the group. As such, the green netflow doesn’t imply accumulation that’s occurring in the present.

What it does suggest, however, is that the market has seen the rise of HODLing conviction as BTC has settled into the consolidation phase. In the last month, 345,000 BTC has matured into the group. “That’s structural strength building under the surface,” noted Maartunn.

While the latest price recovery has come alongside a surge in the Bitcoin LTH supply, it has also been met with selling pressure. The short-term holders (STHs), investors with a holding time of 155 days or lower, sent about 60,000 BTC to exchanges.

Bitcoin STH Exchange Inflows

Another metric shows that STHs have been transferring their Bitcoin at a loss recently, suggesting that they have still been exiting at a loss despite the recovery surge. Distribution has not just come from the STHs, but also the large entities holding more than 100 BTC in their wallets, who have seen their exchange inflows pick up.

The selling pressure from these groups could be why the Bitcoin rally hasn’t been able to push higher despite the trend in the LTH supply and the accumulation from Strategy. “For now, this still looks like a bear market rally…” said Maartunn. “But a strong breakout could quickly shift the trend.”

BTC Price

Bitcoin surged above $78,000 last week, but the asset has since seen a setback as its price has dropped to $75,300.

Bitcoin Price Chart

评论

發佈留言

發佈留言必須填寫的電子郵件地址不會公開。 必填欄位標示為 *

最新信息

热门类别

zh_TW 繁體中文
zh_TW 繁體中文 en_US English ro_RO Română et Eesti ko_KR 한국어 ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

搜索网站

热门故事

标签

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #Bitcoin (435) #BitcoinETF (3) #itcoinFundamentals (1) # 比特币处理 (1) # 比特币价格 (5) # 比特币价格水平 (1) #BitcoinPump (1) #BitcoinReserve (1) #BitcoinSurge (1) #itcoinTop (1) #Bitfinex (1) #Bitwise (1) #BracebridgeCapital (1) #BRC20Tokens (1) #BTC 收购 (1) 1TP5 看涨预测 (1) #BullishSentiment (1) #C 中国矿业 (1) #CPIPreview (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (73) #ogecoinGains (1) #ogecoinVolume (1) #DutchCourt (2) #ECommerce (1) #El萨尔瓦多比特币 (1) #E以太坊 (69) #EthereumPain (1) #E以太坊价格 (1) #ExpertOpinion (1) #FedRateCut (1) #FiatCurrency (1) #F 财务影响 (1) #F 财务隐私 (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #InflationData (1) #Investment (1) #InvestmentLoss (1) #JapaneseFirm (1) #L LegalAction (1) #L 法律影响 (1) #Legislation (1) #LightningNetwork (1) #M 市场分析 (3) #M 市场监测 (1) #M 市场预测 (1) #M 市场预测 (1) #M 市场投影 (1) #M 市场支持 (1) #M 市场波动性 (1) #M 婚姻 (1) #MemeCoin (5) #MemeCoins (2) #Miner 盈利能力 (1) #M 洗钱 (2) #MtGox (4) #朝鲜加密货币 (1) #诺沃格拉茨预测 (1) 1TP5价格里程碑 (1) #P 价格预测 (2) 1TP5价格问题 (1) #PriceSurge (1) #PrisonSentence (1) # 量化分析 (1) #R 监管压力 (1) #SECA Anti-Crypto (1) #ShibaInu (5) #SocialBuzz (1) #T 技术分析 (1) #Toncoin (3) #T 龙卷风现金 (3) #T 龙卷风现金发展项目 (1) #T 龙卷风现金开发者 (1) #UKCrypto (1) #UpsidePotential (1) #USCongress (1) #WyomingLand (1) #XRPPrice (1) #XRPupswing (1)

实用链接

我发现了一些有用的链接，希望与大家分享。