Bitcoin Long Term Holders Shift Back To Accumulation, Glassnode Data Shows

Bitcoin trades back above $62,000, recovering from 21-month lows hit earlier this week.

Glassnode reports that long term holders, wallets holding coins for at least 155 days, have moved from net distribution to net accumulation for the first time in weeks. Current buying is estimated between 50,000 and 100,000 BTC on a net basis, modest compared to the roughly 400,000 BTC accumulated during past rallies in November 2024 and May 2025.

Glassnode noted that shifts from distribution to accumulation have often appeared during periods of market weakness, as long-term holders buy while short-term traders reduce exposure.

Small Wallets Lead The Buying

Glassnode’s Accumulation Trend Score, which tracks buying behavior across wallet sizes, has risen sharply over the past month. The strongest accumulation is coming from wallets holding under 1 BTC and mid sized holders with 100 to 1,000 BTC, both scoring near the top of the scale. Wallets holding 1 to 100 BTC show moderate buying, while large wallets holding 1,000 to 10,000 BTC are also net buyers, though less aggressively.

Whales Remain On The Sidelines

The largest holders, those with more than 10,000 BTC, remain close to neutral, suggesting big investors have not yet fully joined the trend. Glassnode said widespread accumulation across wallet sizes has historically supported longer term recoveries, but cautioned it is too early to call this a confirmed shift without participation from major holders.