Long-Term Bitcoin Holdings Show Net Growth Amid Market Uncertainty

Crypto KOL Murphy posted on X about recent data trends in Bitcoin holdings, highlighting that as of February 26, there has been a net increase in long-term holdings (LTH). Between February 13 and February 26, 14,127 BTC held by long-term holders were spent, while 19,798 BTC from short-term holders were converted to long-term holdings. This net positive change indicates a reduction in turnover for both long-term and short-term holdings, suggesting that speculative funds are exiting while long-term holders are reluctant to sell. Although this reduces liquidity, it also eases selling pressure. Murphy emphasized the importance of monitoring these trends, drawing from experiences on January 14. Given the current pessimistic and sensitive market sentiment, any increase in selling pressure could severely test the limited short-term demand. Even if the impact is not immediate, it could indirectly lead to an early end to any market rebound. Therefore, Murphy plans to keep a close watch on these developments daily, among other indicators.