Are Long-Term Holders Switching from Distribution to Accumulation?

Are-Long-Term-Holders-Switching-from-Distribution-to-Accumulation

Since the last week of October 2024, the Long-Term Holder Net Position Change (30d sum) had been sitting deep in negative territory, signaling consistent distribution from long-term holders. The metric reached its lowest point on December 5th, 2024, at -827.75K, marking the peak of a 6-month selling phase and coinciding with a 32% correction in Bitcoin's price.

But that trend may be shifting.

Since April 6th, 2025, the metric has not only turned positive but is now showing a clear upward momentum. Following this change, Bitcoin has already climbed by around 12%.

Now the question is—is this just a relief bounce or the start of a new trend? While it’s too early to say definitively, the growing positive momentum in this metric could be a sign that long-term conviction is returning to the market.

Warning, the momentum not yet sufficient for trend reversal.