ChainCatcher reported that crypto research firm K33 said the amount of Bitcoin held by long-term holders has reached a record high. According to K33, this development shows that the bear market may be nearing its end, with on-chain ownership shifting further toward participants that continue to hold rather than sell.
Old-Coin Reactivation Falls Sharply Versus 2024
K33 said old-coin reactivation activity in 2026 has been notably weak. As of June 6, only 218,421 Bitcoin had been reactivated, a figure the firm said points to a substantial decline in on-chain selling pressure. By comparison, 1,180,000 Bitcoin had been reactivated during the same period in 2024.
The research firm said the decline in old-coin activity indicates that long-term holders have a lower willingness to sell. K33 added that patient participants are continuing to absorb supply, while the record level of Bitcoin held by long-term holders makes the on-chain trend clearer.