AxelAdlerJr2026-01-01

LTH Reduced Selling to Minimum Levels

The LTH Distribution Pressure Index has moved into the ACCUMULATION zone, signaling that long-term holders have reduced selling pressure to near-minimum levels. The current Z-score of -1.628 sits confidently below the -1.5 threshold, confirming a low-distribution regime. After a sharp spike into ELEVATED on December 10-11 - when LTH spending jumped to 408-457 BTC per day and velocity surged above 100% WoW - the index retraced rapidly and returned to ACCUMULATION within nine days. Since then, it has oscillated in a narrow range between -1.5 and -1.9, with the current accumulation streak lasting five days. At the same time, the 7-day average LTH spending has fallen to just 221 BTC, one of the lowest levels in recent months, while SOPR remains above 1 (1.13). This combination defines the current regime: long-term holders are in profit, but they are not rushing to realize it. Selling exists, but its scale is too small to create meaningful pressure on price. Structurally, this reduces supply overhang and shifts market dynamics toward demand-driven moves.